US Indexes Head for Weekly Losses of Up to 2.48% as 10-Year Yield Returns to 4.70%
Updated
Updated · The Associated Press · Aug 21
US Indexes Head for Weekly Losses of Up to 2.48% as 10-Year Yield Returns to 4.70%
3 articles · Updated · The Associated Press · Aug 21
Summary
S&P 500, Dow and Nasdaq were all on track Friday to finish the week lower for the first time in a month, down 1.85%, 1.81% and 2.48% before the open.
Treasury yields resumed climbing after only brief relief from the Treasury's expanded long-bond buyback plan, with the 10-year at 4.70% and the 30-year at 5.25%.
Inflation worries tied partly to the Iran war and rising US debt kept pressure on risk assets even as stock futures turned modestly higher early Friday.
Oil stayed elevated near wartime levels—Brent at $93.67 versus about $72 before the conflict—while Washington increased economic threats toward Iran over stalled Strait of Hormuz talks.
Global markets reflected the same backdrop: Japan's 10-year yield rose to 2.88%, Tokyo stocks slipped, and Bitcoin jumped 22% for the week to $76,935.