Dow falls 560 points amid surging yields, Nasdaq sheds 3.5% in worst sell-off since October

U.S. stocks fell sharply Thursday as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names.

The major averages tumbled in a rapid fashion as the 10-year Treasury yield soared about 0.2% above 1.6% in a sudden move that some described as a "flash" spike. The yield later settled back down to around 1.52%, its highest level since February 2020. Higher rates tend to hit the technology sector especially hard as the group relies on easy borrowing for superior growth. The tech-heavy Nasdaq has dropped 5.4% this week, on pace for its second weekly loss in a row. Consumer discretionary and info tech are the two biggest losers among 11 S&P 500 sectors, falling 5.4% and 4.5%, respectively.

Investors are rotating into areas of the market that would benefit from an economic reopening the most. Energy has gained 6.8% this week alone, the biggest winner by far. Industrials and financials are the only two other sectors in the green week to date.emphasized the central bank's commitment to easy policy and downplayed the risk of inflation, saying it could take three years or more before the Fed's goals are reached.

Who wants 1%. Good luck

Bonds have to be the most boring investment out there. Wow 0.3% increase. GME just went to the moon!!!

Hahaha. Buy the dip and get a falling knife for free!

ClosingBell WilfredFrost with the man-xplaining aye SaraEisen ? I’m teasing. The British accent just intensifies you’re frustration with lagging back and forth. We’re all tired of it. michaelsantoli always sounds like he’s wearing a dry smile—endless patience. Good show, all ! 📺 🔔

Perhaps the dumbest drop I’ve seen in the market in a while.

Scenario: - Treasury Auction terrible (foreigners not buying) - Treasury yields spike - S&P sells off - Stock/Bond 60/40 funds punished - Fed now must print to buy treasury to suppress yields - Gold/Silver time has come! sliversqueeze

If you get spooked by something as boring as bond yields you're not an investor, you're a member of the Scooby-Doo gang.

Only reason is that the hedge fund groups needed to make their money back CNBC CNBCTV18Market

High yields didn’t force anything, hedge funds threw a hissy fit because $GME $KOSS & $AMC went crazy this morning. Hopefully they changed their diapers and are over it so we can get back to normal tomorrow.

Stocks only go up!!!

short stonks long cryptos

Sharply🤨

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