Wall Street Falls as 10-Year Yield Tops 5% — SkimNews
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- Wall Street ended lower as oil prices spiked and the benchmark 10-year Treasury yield breached 5%.
- 10-year Treasury yield hit its highest level since 2007 ahead of a Federal Reserve rate decision.
Why it matters: The 10-year yield crossing 5% for the first time in 16 years raises borrowing costs across the economy just as investors position for a Fed rate decision, squeezing equity valuations while renewed oil-driven inflation pressure complicates the Fed's path.
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