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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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