(Bloomberg) — Stocks and bonds sold off after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more forcefully against the recent spike in Treasury yields.
The S&P 500 pared losses after briefly erasing its advance for 2021, but the gauge still headed toward its lowest close in about five weeks. Benchmark 10-year bond rates topped 1.5% as the dollar climbed. The tech-heavy Nasdaq 100 extended its decline from a February peak to almost 10%, and the…
Source link
