U.S. Stocks Drop as Treasury Selloff Gains Steam: Markets Wrap
- 10-year yield climbs above 2.78% as fear of contagion mounts
- Apple headlines afterhours tech earnings with Amazon
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U.S. stocks and Treasuries fell in tandem Thursday ahead of a slew of technology earnings, as the threat of higher rates from the Federal Reserve continued to rattle equity markets coming off their best month since March 2016.
The Nasdaq 100 Index bore the brunt of the selling as the tech-heavy gauge headed for its worst week since June. Amazon.com Inc. tumbled before its earnings, with Apple Inc. and Alphabet Inc. also fell on results that disappointed.