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Bonds Plunge, Stocks Undo Gains on Inflation Risk: Markets Wrap
LAGOS (Capital Markets in Africa) — Inflation concerns are rattling investors worldwide once again, fueling a selloff in bonds and sending U.S. stocks down from record highs. Ten-year Treasury yields climbed above 1.75% for the first time since January 2020, while the 30-year breached 2.5% for the first time since August 2019. The Nasdaq 100 Index, a benchmark for high-valuation stocks that are sensitive to rising yields, sank, with Apple Inc., Microsoft Corp. and Tesla…
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