Published on 21 Oct 2024 on Benzinga
Stocks Fall As Treasury Yields, Dollar Rise; Nvidia Hits Record Highs: What's...
U.S. major indices fell on Monday as rising Treasury yields and a strengthening dollar dampened risk sentiment. Investors are reassessing the economic outlook and weighing potential risks tied to the Federal Reserve’s next interest rate moves.
Yields on the 10-year Treasury note surged 9 basis points to 4.18%, reaching their highest level since late July. Meanwhile, 30-year Treasury bond yields climbed to 4.5%. The spike in yields pushed the iShares 20+ Year Treasury Bond ETF TLT down by 1.4%, reflecting renewed pressure on long-duration bonds.