Wall Street Drifts Lower as Bond Yields Rise and Oil Prices Swing
The 10-year Treasury yield rose to 4.98% as higher borrowing costs weighed on stocks and oil prices swung, analysts said.
- U.S. stock indexes were mixed on Friday as the 10-year Treasury yield climbed to 4.98% from 4.94% late Thursday, having topped the 5% level earlier this week for the first time since 2023.
- The Federal Reserve raised its federal funds rate earlier this week to combat inflation worsened by higher oil prices from the war with Iran, with Brent crude reaching nearly $110 early this week.
- European indexes slumped, including 1.2% drops for the CAC 40, while Asian markets like the Kospi and Nikkei gained; Berkshire Hathaway slipped 0.1% after famed investor Warren Buffett announced stepping down as chairman.
- Rising yields slow the economy by increasing borrowing costs for the government, homebuyers, and businesses, while officials suggested another federal funds rate hike may be needed this year to reach the 2% inflation target.
- President Donald Trump has been calling for lower interest rates as monetary tightening may cause economic pain in the short term, while high inflation continues raising expenses for households nationwide.
23 Articles
23 Articles
Wall St mixed as benchmark Treasury yields reach 5%, oil takes a pause
NEW YORK — Wall Street was mixed on Friday as benchmark U.S. Treasury yields topped 5 percent, and crude prices reversed earlier gains but remained above $100 per barrel, keeping inflation worries front and center. Investors approached the end of a week that was essentially split in two: first, restless anticipation in the days before the U.S. Federal Reserve's widely expected interest rate hike, and then the aftermath of that decision. A semico…
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Wall Street drifts lower as bond yields rise and oil prices swing
Wall Street is drifting lower toward the finish of an up-and-down week, and U.S. stock indexes are mixed as bond yields rise and oil prices swing. The S&P 500 fell 0.3% in afternoon trading on Friday. The Dow Jones Industrial…
US stock markets were slightly down after about 4 hours of trading on Friday as investors digested the information from a turbulent week, marked by fluctuating oil prices and rising bond yields.
Investors are eyeing the prospect of a new global round of monetary policy tightening, against a backdrop of inflation concerns.
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