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Barchart
Barchart
Rich Asplund

Stocks Under Pressure on Reduced Fed Rate Cut Expectations

US Federal Reserve United States ECB General Motors PACCAR Inc Philip Morris International Richmond Fed The SP 500

The S&P 500 Index ($SPX) (SPY) today is down by -0.34%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.22%.

Stocks today are moderately lower as a jump in global bond yields undercuts equity prices.  The 10-year T-note yield rose to a 2-3/4 month high today, the 10-year German bund yield climbed to a 7-week high, and the 10-year Japanese JGB yield rose to a 2-1/2 month high.  An increase in US bond yields is leading global yields higher on expectations for a slower pace of Fed rate cuts. 

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