Rise in Treasury yields weighs on US stock prices

Rise in Treasury yields weighs on US stock prices

New York 14-year high in US Treasury yields is putting renewed pressure on Wall Street after a two-day rally. The Dow Jones index of standard values ​​fell 0.3 percent to 30,439 points when it opened on Wednesday. The broader S&P 500 dipped half a percent to 3,703 points. The Nasdaq technology exchange index fell by almost one percent to 10,689 points.

“We just witnessed a bear market rally. The market will struggle with volatility until the Fed slows the rate hikes,” said Robert Pavlik, portfolio manager at money manager Dakota Wealth. “That’s probably not going to happen until we see some weakness in the job market.”

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