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S&P 500 Drops as 10-Year Yield Hits 5.11%

By Drooid · · How we work

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Story summary
  • U.S. stock markets fell as the 10-year Treasury yield jumped to about 5.10%.
  • The 10-year Treasury yield rose to 5.11%, matching 2007 levels.
  • The S&P 500 slid 0.8% to 7,706.03 points.
  • Brent crude for November delivery rose 3.9% to $103.08 per barrel.
  • Fed Governor Michael Barr said further rate hikes are likely to reach the 2% inflation target.