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The Bond Market Just Suffered a Brutal Selloff. Stocks Are Feeling the Strain.
Barrons.com12h agobearish
The Bond Market Just Suffered a Brutal Selloff. Stocks Are Feeling the Strain.

The yield on the 10-year Treasury note shot up 0.15 percentage point to 5.11%, its highest level since 2007. The upshot will be higher borrowing costs throughout the economy if yields don’t return to their previous levels. Mortgage rates already are heading toward 7%, or even higher, threatening to depress an already weak housing market in many parts of the country.

McDonald's Drives the Dow Drop
Barrons.com1d agobearish
McDonald's Drives the Dow Drop

McDonald's stock was on track for its worst day in more than six years on Wednesday, taking the Dow Jones Industrial Average lower. It was down as much as 6.5% in what could be McDonald's largest single-day decline since March 2020. McDonald's was a roughly 76-point drag on the Dow.

Stocks Slump as Wall Street Shifts Risk-Off
Barrons.com1d agobearish
Stocks Slump as Wall Street Shifts Risk-Off

Stocks declined as the tone on Wall Street shifted away from risk amid mounting geopolitical uncertainties. The downturn marked a breather from the recent tech stock rally. The tech-heavy Nasdaq Composite dove 1%, pulling back from the record high it set the session prior.