The S&P 500 Index ($SPX) (SPY) today is down by -0.28%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.48%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.29%. December E-mini S&P futures (ESZ25) are down -0.35%, and December E-mini Nasdaq futures (NQZ25) are down -0.44%.
Stock indexes are moving lower today as higher bond yields spark risk-off sentiment in asset markets. The 10-year T-note yield is up +7 bp to 4.08% on negative carryover from a surge in 10-year Japanese bond yields to a 17-year high after Bank of Japan (BOJ) Governor Ueda offered his clearest signal yet that the BOJ could raise interest rates again at this month’s BOJ meeting. Bitcoin is down by more than 7% today, at a 1-week low, further weighing on market sentiment. Strength in energy producers today is a positive factor for stocks, with WTI crude up more than 1% at a 1-week high.
