Wall Street Bond Yield Drop
American stocks declined, led by the Nasdaq index, due to rising yields on U.S. Treasury bonds reaching their highest levels since 2004, amid expectations of further interest rate hikes by the Federal Reserve. The technology sector came under pressure, especially after Oracle's stock dropped by more than 5%, amid expectations that the company would invoke a "force majeure" clause to offset delays in the data center project in New Mexico. Additionally, oil prices rose by approximately 1%, supporting forecasts of continued rate increases, as futures contracts indicate a more than 70% chance of a rate hike in October. This situation is intensifying financial cost pressures on consumers and increasing market volatility due to geopolitical concerns, inflation, and the sustainability of capital spending on artificial intelligence.
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