Shares fall into drastic turn; Treasury yields rise

US stocks fell as Treasury bonds resumed liquidation, as traders prepare for the possibility of a more aggressive tightening of monetary policy by the Federal Reserve. The S&P 500 fell 1.5% in a dramatic change of course after rising more than 1% in the morning thanks to encouraging corporate results. The technology-weighted Nasdaq 100 fell by around 2%, with a lower performance than the major indices.

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(Bloomberg) US stocks fell as Treasury bonds resumed liquidation, as traders prepare for the possibility of a more aggressive tightening of monetary policy by the Federal Reserve. The S&P 500 fell 1.5% in a dramatic change of course after rising more than 1% in the morning thanks to encouraging corporate results. The technology-weighted Nasdaq 100 fell by around 2%, with a lower performance than the major indices.

Here are some of the main movements in the markets:

Shares

  • The S&P 500 fell 1.5% at 4pm New York time
  • The Nasdaq 100 fell 2%
  • The Dow Jones Industrial Average fell 1%
  • The MSCI World index fell 1.1%

Currencies

  • The Bloomberg Dollar Spot Index rose 0.4
  • %
  • Euro fell 0.1% to $1.0839
  • Pound sterling fell 0.3% to $1.3029
  • Japanese yen fell 0.3% to 128.29 per dollar

Bonds

  • 10-year Treasury yield advanced seven basis points to 2.90%
  • Germany's 10-year bond yield advanced nine basis points to 0.95%
  • Britain's 10-year bond yield rose 10 basis points to 2.01% Commodities

  • West Texas Intermediate crude rose 1.5% to US$103.74 a barrel
  • Gold futures posted little change

Original Note:

Stocks Fall in a Dramatic Reversal as Yields Surge: Markets Wrap

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