Treasury rates highest in 16 years

On Friday, stock markets experienced a decline in response to a significant increase in the 10-year Treasury yield, which raised broader concerns about the state of the economy.

The S&P 500 recorded a 1.26% loss, closing at 4,224.16, marking its first week of losses in the past three weeks.

Similarly, the Nasdaq Composite saw a decline of 1.53%, ending at 12,983.81.

The Dow Jones Industrial Average also dipped by 286.89 points, equivalent to 0.86%, concluding the session at 33,127.28. American Express contributed to the Dow’s drop following a mixed earnings report.

The benchmark 10-year Treasury yield crossed the 5% mark for the first time in 16 years on Thursday, CNBC reported.

READ MORE: https://www.cnbc.com/2023/10/19/stock-market-today-live-updates.html

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