10-year U.S. Treasury yield exceeds 4.9%

10-year U.S. Treasury yield exceeds 4.9%

Long-term bond yields hit a new 16-year high on Wednesday, weighing on stocks already under pressure from the conflict in Gaza and corporate earnings.

The yield on the 10-year U.S. Treasury rose to 4.902%, its highest closing level since July 2007. The S&P 500 fell 1.3%. The Dow Jones Industrial Average lost 332.57 points, or 1%. The Nasdaq Composite lost 1.6%.

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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