2023-10-23 14:11:08
The main indices on Wall Street fell on Monday, with the yield on the standard ten-year US Treasury bonds reaching the level of five percent, the levels of July 2007, while investors awaited the results of the operations of the largest technology companies in the world and important economic data.
The surge in yields on 10-year Treasury bonds, seen as a safe haven in times of economic uncertainty and a benchmark for borrowing costs around the world, was driven by investors pricing in stronger US growth as well as financial downturns.
Yields on long-term bonds rose rapidly after Federal Reserve Chairman Jerome Powell said last week that the strength of the US economy and good labor market may justify further monetary tightening.
The 10-year bond yield touched 5.004 percent on Monday, rising about 8 basis points during the session.
Market movements
The Dow Jones Industrial Average fell 48.35 points, or 0.15 percent, to 33,078.93 points, by 14:02 GMT.
The Standard & Poor’s 500 index fell 9.48 points, or 0.23 percent, to 4,215.18 points, and the Nasdaq Composite index fell 39.19 points, or 0.30 percent, to 12,943.16 points.
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