Dow Falls 400 Points As 10-Year Treasury Yield Hits Highest Level Since January 2019

Dow Falls 400 Points As 10-Year Treasury Yield Hits Highest Level Since January 2019

Share to Linkedin Stocks fell on Monday as government bond yields surged—with the 10-year Treasury jumping above 2. 7%, its highest level since January 2019—amid ongoing fears about inflation, with investors dumping riskier assets as they brace for more aggressive rate hikes from the Federal Reserve. Investors dumped risky assets as a new government report on Tuesday is expected to show inflation ... [+] will surge higher than previously thought. Government bond yields spiked higher amid growing alarm about surging inflation: The 10-year Treasury note jumped above 2. 78% on Monday, its highest level since January 2019. The downward movement could continue this week as the latest Consumer Price Index from the Bureau of Labor Statistics, which will be released on Tuesday, is expected to show a staggering 8. 4% increase in prices from last year. Investors continued to rotate out of riskier assets including growth and technology stocks, portions of the market which experts think will be most impacted by rising rates. Oil prices, which remain volatile amid Russia's ongoing invasion of Ukraine, fell again on Monday and now sit at around $95 per barrel: Shares of major energy companies like Occidental Petroleum and Diamondback Energy subsequently both lost