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US Stocks Fall as Treasury Yields Hit 2002 High and Oil Prices Rise
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CNBC TV18•07-10-2026, 19:27
US Stocks Fall as Treasury Yields Hit 2002 High and Oil Prices Rise
- •The Dow Jones Industrial Average dropped 451 points and the S&P 500 declined following a record high session.
- •The benchmark 10-year Treasury yield surged to 5.356 percent, reaching its highest level since April 2002.
- •US crude futures rose above 90 dollars a barrel and Brent crude gained nearly 1 percent, adding to inflation concerns.
- •Investors awaited the minutes from the Federal Reserve September meeting for clues on future interest rates.
- •European and Asian markets also declined broadly amidst the rising bond yields and commodity prices.
Key Questions Answered
US stocks declined as rising Treasury yields and higher oil prices weighed on investor sentiment. The pullback occurred a day after the S&P 500 reached a fresh record, as investors awaited the minutes from the Federal Reserve's September policy meeting.
The benchmark 10-year Treasury yield climbed to 5.356%, reaching its highest level since April 2002. Meanwhile, the 30-year Treasury yield rose to 5.725%, hitting its highest level since May 2002.
European stocks declined sharply on Wednesday, with the pan-European Stoxx 600 falling 0.8% and Germany's DAX dropping 1.3%. In Asia, Japan's Nikkei 225 fell 0.92% and South Korea's Kospi declined nearly 2%, while mainland Chinese markets stayed closed for the Golden Week holiday.
