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Stocks Fall as Treasury 10-Year Yield Tops 2.75%: Markets Wrap

  • Oil resumes its decline as China’s virus resurgence worsens
  • Russian Railways ruled in default, government halts bond sales
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Beyond the Bell 04/11/22
Updated on

Stocks and bonds retreated Monday as investors focused on inflation and the impact of policy tightening by central banks.

All major groups in the S&P 500 fell, while the tech-heavy Nasdaq 100 lost more than 2%. Ten-year Treasury yields climbed through 2.75% for the first time since March 2019 after the Federal Reserve last week signaled sharp rate hikes and balance-sheet reduction to curb price pressures. Oil sank as China’s largest coronavirus outbreak in two years heightens concerns about demand. Bitcoin traded near $40,000.