Markets News
Markets1 min read
Treasury Yield Reaches 5.34% as Stocks Pull Back
The 10-year yield touched its highest level since 2002 as long-dated bonds rose, oil topped $100 and Bitcoin fell.
Key takeaways
- The 10-year Treasury yield rose to its highest level since 2002.
- Bitcoin traded near $83,000 after falling more than 3%.
Stocks retreated Wednesday as the 10-year Treasury yield reached 5.34%, its highest level since 2002, and Brent crude futures rose above $100 a barrel. The 2-year Treasury yield climbed to 4.82%.
The 10-year yield was 5.341% at 13:47 UTC, according to market data. Tech stocks also fell, with Nvidia and AMD retreating from all-time highs.
Bitcoin traded at $83,194 at 13:59 UTC, down 3.56% over 24 hours. Stocks had recently come off all-time highs, while the breadth of the rally had weakened in recent weeks, Yahoo Finance reported.
Further reading
This article was produced with the help of AI technology. Source: Yahoo Finance
