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Barchart
Barchart
Rich Asplund

Stocks Retreat on Higher Bond Yields

The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.28%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.37%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.31%.  December E-mini S&P futures (ESZ25) fell -0.27%, and December E-mini Nasdaq futures (NQZ25) fell -0.34%. 

Stock indexes gave up early gains and settled lower on Wednesday, as rising bond yields sparked long liquidation pressure in equities.  The 10-year T-note yield rose +4 basis points to a 2.5-week high of 4.15% following hawkish Fed comments and the jump in US Aug new home sales to a 3.5-year high.

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