Stock Market Today: Dow ends 400 points lower as 10-year Treasury yield rises above 4%
Despite its recent advance, the 10-year yield remains "in a downtrend" and faces resistance at the 4.09% level and near the 200-day moving average of 4.16%, said Adam Turnquist, chief technical strategist for LPL Financial in Charlotte, NC. Until these levels are conquered, upside rallies in the yield "should be viewed as temporary."
Stock market today: Wall Street slides after Treasury yields climb back above 4% and oil rises
That in turn has sent Treasury yields higher, and the 10-year yield is back above 4% for the first time since August. The two-year Treasury yield also briefly climbed back above 4% Monday, up from 3.50% a couple weeks ago.
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Iran War, meant that the Nifty-50 index ended down 4.4% Week on Week. The Sensex, at 81,688.45, also ended with similar cuts.
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Despite widening geopolitical conflict, U.S. stocks have moved relentlessly higher to log multiple records this year.
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