U.S. Stocks Fall With Treasuries, Dollar Climbs: Markets Wrap
- Treasury sales draw some of the highest rates in a decade
- Chipmakers boost technology indexes; Walmart drops Dow
U.S. Two-Year Notes Yield 0.016% at $15B Auction
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U.S. stocks halted a six-day rally as disappointing results from Walmart Inc. weighed on major indexes as the dollar pushed higher. Treasuries fell amid a heavy slate of U.S. debt issuance, with short-end auctions drawing some of the highest yields in almost a decade.
The S&P 500 Index slipped below its average price for the past 50 days. Walmart sank the most since 1988, while a rally in chipmakers boosted the Nasdaq 100 Index. The Treasury’s auctions of two-year notes and three- and six-month bills went off at rates unseen since 2008, while the 10-year rate was up to 2.89 percent. The greenback gained versus major peers.