10-year Treasury yield jumps as September core inflation comes in hotter than expected
Hotter-than-expected inflation lifted Fed rate-hike odds and sent the 10-year Treasury yield higher, while the S&P 500 and Nasdaq fell sharply.
- On Wednesday, the Nasdaq dropped 1 percent to 26,934.74 and the S&P 500 declined 0.8 percent to 7,746.29 following negative market reaction to inflation data.
- U.S. consumer costs rose 3.7% last month versus a year earlier, accelerating from 3.4% in August and exceeding the 3.6% economists expected. The 10-year Treasury yield jumped to 5.23%.
- Traders now see a 39% chance the Federal Reserve will raise rates at its next meeting in two weeks, up from 22% probability a day earlier, according to CME Group data.
- Bank of America fell 6.3% after reporting weaker third-quarter profit and revenue, compounded by a $1.2 billion U.S. Treasury Department fine. BlackRock rose 0.5% on stronger earnings.
- Despite inflation concerns, Vanguard Senior Economist Adam Schickling said inflation should slow as Americans become more price-sensitive, though "patience will be required." Signals suggest the U.S. economy is still growing.
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228 Articles
Concerns about investments in artificial intelligence are turning investors en masse to government bonds The post Big Tech: The worst week since the start of Trump tariffs appeared first on in.gr.
Global markets have had a volatile week, marked by US inflation, tensions in the Middle East, and selling pressure on AI stocks. This week, attention is focused on the Central Bank's interest rate decision domestically and on the earnings reports of major technology companies internationally.
Tech stocks drag Nasdaq 2% lower; sheds over 4% for the week (MU:NASDAQ)
primeimages The Nasdaq Composite Index (COMP:IND) plunged 2.14% on Friday as technology stocks came under pressure. Traders wrapped a mostly losing week amid a pullback in artificial intelligence-related stocks, with memory chip stocks among the hardest-hit segments as investors reassessed the sector’s Source: Business Insider
The accumulation of debt to build data centers and persistent inflationary pressure led Nasdaq to record its worst weekly performance since June.
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