S&P 500 Falls 0.5% as 30-Year Treasury Yield Hits 19-Year High
Updated
Updated · CNBC · Aug 17
S&P 500 Falls 0.5% as 30-Year Treasury Yield Hits 19-Year High
3 articles · Updated · CNBC · Aug 17
Summary
The S&P 500 slipped 0.5% Tuesday, while the Nasdaq dropped 1.1% and the Dow lost 86 points as higher global bond yields and chip-stock weakness pressured equities.
The U.S. 30-year Treasury yield reached a fresh 19-year high, with Japan’s 10-year yield at a three-decade peak and long-dated German and French yields also at multiyear highs.
Semiconductor-related names deepened the selloff: Western Digital fell nearly 7%, Sandisk dropped 8%, and Marvell Technology and Seagate each lost about 8%.
Oil added to inflation worries, with U.S. crude rising nearly 1% above $85 a barrel as hopes for easing Middle East tensions faded after Trump said no U.S.-Iran talks are underway and the naval blockade remains in force.
Home Depot’s roughly 1% gain after a second-quarter earnings beat helped limit Dow losses, but investors still faced a broader risk that stubborn yields could trigger a wider equity pullback.