Stock market today: Dow, S&P 500, Nasdaq slide as bond yields surge, bitcoin hits record high
Автор: AlphaStash
Загружено: 2025-05-21
Просмотров: 93
Hey there, finance enthusiasts! US stocks took a dip yesterday afternoon as bond yields kept climbing, adding more pressure on equities. The Dow Jones dropped around 1.7% - that's over 700 points! The S&P 500 and Nasdaq weren't far behind either, both slipping around 1.3% and 1% respectively.
This came after a weak 20-year bond auction at 1 p.m. and a surge in Treasury yields. The benchmark 10-year Treasury yield hit 4.59%, close to its highest level since 2023.
In other news, Bitcoin hit a fresh record of over $109,000! But it wasn't all sunshine and rainbows as the cryptocurrency market also reversed with the broader market.
Meanwhile, the S&P 500 snapped a six-day run of gains as optimism over the US-China trade truce began to fade. And there's more drama between the US and China over chips, threatening the fragile trade deal.
Adding to the worries, Target's first quarter results brought tariffs back into focus, with missed earnings and a cut in full-year outlook. And let's not forget the currency concerns as the US dollar fell to a two-week low.
To wrap it up, rising bond yields are back in the spotlight, with Piper Sandler's chief investment strategist pointing out that equity markets tend to struggle when 10-year rates move above 4.5%. So, keep an eye on those Treasury yields, folks! That's all for now, stay tuned for more finance updates!
#shorts #finance #investing
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