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Tech Rout Pulls Stocks From Record; Bonds Fall: Markets Wrap

  • Latest data shows mixed signals on U.S. price pressures
  • Treasury yields higher with 10-year rate up 2 basis points
Bloomberg business news
WATCH: JPMorgan says complacency around omicron is a key risk for markets.Source: Bloomberg
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U.S. stocks slipped from an all-time high after worries over rising interest rates sparked a selloff in tech shares. Treasuries fell and the yen dropped to the lowest since 2017.

The S&P 500 was little changed Tuesday as data showed mixed signs on U.S. inflation ahead of three expected rate hikes from the Federal Reserve this year. Prices paid by manufacturers in December came in sharply lower than expected, adding to signs inflationary pressure may have peaked in some areas. However, data showing a record U.S. job quit rate added to concerns over wage inflation.