Event overview
Stocks tumble as Treasury yields spike and Iran fears shake markets
The selloff gathered steam after the 30-year Treasury yield shot above 5.1%, approaching levels not seen in nearly two decades. This cluster currently includes 2 articles from 2 sources.
This cluster currently includes 2 articles from 2 sources. Sources in this event include New York Post, NBC News.
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Global bonds sink and oil prices jump, triggering a stock sell-off
Government bonds around the world sold off sharply Friday as the price of oil jumped, both driven by an array of geopolitical developments in the Iran war, politics and trade. The yield on a 30-year U.S. Treasury bond rose to 5.127%, its highest level since 2007. On Wednesday, the Treasury Dept. also sold 30-year.
Stocks tumble as Treasury yields spike and Iran fears shake markets
Wall Street’s rally hit a wall Friday as investors dumped stocks amid a sharp jump in Treasury yields, another surge in oil prices and ongoing fears about the Iran war. The Dow Jones Industrial Average fell over 500 points in afternoon trading, while the S&P 500 slid more than 1% and the Nasdaq Composite dropped about.