Stocks Fall as Bond Yields Surge, Nasdaq Pulls Back From Record High
The Nasdaq Composite had closed at a record on Tuesday before markets retreated as yields climbed.
US stocks fell as bond yields climbed sharply, with the Nasdaq Composite retreating after closing at a record high the previous session, according to a CNBC live markets report.
The Nasdaq Composite had risen to a new all-time intraday high and closed at a record on Tuesday, before the subsequent pullback as yields moved higher.
Rising bond yields often weigh on stocks, particularly technology and growth shares that make up a significant portion of the Nasdaq, as higher borrowing costs and shifting rate expectations prompt investors to reassess valuations.
The report did not provide specific figures on the scale of the day's declines across major indexes.
Market context
The pullback illustrates the sensitivity of recent market gains to shifts in the bond market, with investors closely watching yield movements for signals about the path of interest rates.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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