Last Updated: Sep 22, 2023
US stocks sink most in six months after recent run-up in treasury yields. The S&P 500 plunged 1.6 percent and the Nasdaq 100 fell almost 2 percent.
The two indexes are on track for the worst quarter in a year. The 10-year Treasury yield pushed toward 4.5 percent, up more than 30 basis points in just three weeks.
A bad week on Wall Street turned dismal on Thursday after the relentless surge in Treasury yields sapped demand for risk assets. In the end, US stocks suffered the biggest drop in six months as investors recalibrate for a world where rates sit at levels not seen in a generation.
The Nasdaq Composite index slumped 1.8 percent, the S&P 500 slipped 1.6 percent and the Dow Jones Industrial index fell one percent.