Wall Street Faces Pressure from Yields
The U.S. stock market has halted its growth amid rising Treasury yields and inflation, with the Dow Jones index showing a modest increase of 0.15%, while the S&P 500 dropped 0.42% and the Nasdaq declined 0.66%. Inflation data for September came in higher than expected, with prices rising by 0.6% month-over-month and 3.7% year-over-year, leading to record-high yields on 10- and 30-year bonds not seen in 24 years. At the same time, oil prices climbed to around $96 per barrel, while bank and semiconductor stocks declined, with some major banks announcing significant losses due to sanctions and limited earnings outlooks. Meanwhile, inflation data is affecting expectations for interest rate hikes, impacting stock valuations and strengthening the dollar.
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