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Wall Street Falls as Treasury Yields Hit Multi-Decade Highs

NEW YORK: U.S. stocks declined Tuesday as rising Treasury yields and elevated oil prices put pressure on financial markets.

United States financial markets representative image
United States representative image.

Reuters reported that the 10-year Treasury yield reached 5.278%, its highest level since 2007, while the 30-year yield reached levels not seen since 2002. The Dow, S&P 500 and Nasdaq all ended lower.

Investors are also monitoring oil prices, consumer confidence, job openings and expectations for Federal Reserve policy. CarMax shares rose after stronger quarterly results, while other companies moved sharply following company-specific news.

Source: Reuters and Federal Reserve.

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Imran Siddiqui

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