Stocks Fall as 10-Year Treasury Yield Hits 19-Year High, Oil Tops $106 a Barrel
Major U.S. stock indexes closed lower Monday as rising bond yields and surging crude oil prices weighed on investor sentiment.
U.S. stock markets closed lower on Monday as a sharp rise in bond yields and higher crude oil prices put pressure on investors, according to CNBC.
The yield on the 10-year Treasury note climbed to its highest level in 19 years, CNBC reported, adding to concerns about borrowing costs across the economy.
At the same time, crude oil prices rose above $106 a barrel, according to the report, further unsettling markets already grappling with higher interest rates.
CNBC said the combination of higher yields and rising energy costs kept major stock averages under pressure throughout the trading session, resulting in a broad decline by the close of trading.
The report did not provide additional details on the specific factors driving the moves in bond yields and oil prices, or on reactions from market participants.
Sources
- Stocks drop as 10-year Treasury yield hits 19-year high, crude oil tops $106 a barrel: Live updates — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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