Rising US Treasury yields continue to put pressure on stock market
Wall Street's main indices fell sharply today as higher bond yields continued to put pressure on technology stocks. The 10-year Treasury yield jumped to 1.49%,a level not seen since February 2020 which prompted investors to book some profits due to concerns over heightened valuations.
US100 erased early gains and plunged below key support at 13 000 pts. If the current sentiment prevails, downward move could be extended to the 12,755 pts level. Source: xStation5
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