|
Stocks also slide after lacklustre $16bn auction for 20-year Treasuries
|
|
Nvidia's stock has been a favorite for some time, but two other semiconductor companies recently cracked Goldman's list of popular hedge-fund holdings.
|
|
Stocks to Watch: Dow Closes 800 Points Lower; Treasury Yields Rise in Global Bond Selloff — Live Updates WSJStock market today: Dow sheds 800 points, S&P 500, Nasdaq slide as Treasury yields surge, bitcoin hits record Yahoo FinanceDow sinks 800 points as bond market starts to freak out over Trump's tax bill CNNMarkets sink as debt worries hammer U.S. bonds NBC News
|
RELATED ARTICLES | | |
|
Dow Jones Today: Stocks Plunge, Treasury Yields Surge as Investors Monitor Tax Bill; Dow Drops 800 Points, Bitcoin Wavers After Hitting Record High InvestopediaDow sinks 800 points as bond market starts to freak out over Trump's tax bill CNNStocks to Watch: Dow Closes 800 Points Lower; Treasury Yields Rise in Global Bond Selloff — Live Updates WSJStock Market News: Dow Slides as Bond Yields Spike Barron's
|
RELATED ARTICLES | | |
|
Dow slides more than 800 points as spiking Treasury yields and deficit fears spur a sell-off: Live updates CNBCDow sinks 800 points as bond market starts to freak out over Trump's tax bill CNNStock market today: Dow sheds 800 points, S&P 500, Nasdaq slide as Treasury yields surge, bitcoin hits record Yahoo FinanceStocks to Watch: Dow Falls 600 Points; Treasury Yields Rise in Global Bond Selloff — Live Updates
|
|
Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement.
The central bank issued its third jumbo-sized rate increase yesterday and set expectations that it will continue to hike rates over its next few meetings. However, the Fed is not alone in its aggressive stance. Several global central banks have increased their benchmark rates this week in an ongoing effort to tame inflation, including the Bank of England and Switzerland's National Bank, which earlier today issued 50 basis point and 75 basis point rate hikes, respectively. (A basis point is one one-hundredth of a percentage point.)
SEE MORE 10 Best Marijuana Stocks to Buy Now
"Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession," says Edward Moya, senior market strategist at currency data provider OANDA. "Most of these rate hikes around the world are not done yet which means the race to restrictive territory won't be over until closer to the end of the year."
The reaction here at home was a selloff in bond prices, which sent yields on government notes spiking. The 10-year Treasury yield surged 19.2 basis points to 3.704% - its highest level since early 2011 - while the 2-year Treasury yield spiked 12.1 basis points to 4.116%, its loftiest perch since late 2007.
Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
As for stocks, the tech-heavy Nasdaq Composite
|
|
