Tech Leads Stock Gains as Treasury Yields Slide: Markets Wrap
- Nasdaq 100 outperforms as Treasury yield slips below 1.7%
- Turkey’s lira plunges following upheaval at the central bank
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Tech companies led U.S. equity gains as a dip in Treasury yields provided a tailwind for stocks.
The S&P 500 Index climbed 0.7% and the Nasdaq 100 fared even better as the 10-year U.S. Treasury yield fell from the highest levels in about 14 months. Small-cap shares underperformed. The bond market remains in focus this week amid a slate of auctions and moves by the Federal Reserve to let a key bank capital exemption lapse.