US stocks dive as UK, US bond yields surge, NASDAQ plunges
The post US stocks dive as UK, US bond yields surge, NASDAQ plunges appeared on BitcoinEthereumNews.com. NASDAQ caves as US, European bond yields jump higher. A US court has called Trump’s tariffs unconstitutional, and US government could be forced to pay back tariffs. US 30-year Treasury briefly touches 5.00% on Tuesday. With a lower high already in place, traders watch for NASDAQ Composite to initiate downtrend with lower low. September seems eager to prove its reputation as a poor month for stock market performance. On the first trading day of September after the Labour Day holiday, Tuesday opened with the NASDAQ Composite plunging down 1.85%. The danger is coming from the bond market. US Treasury yields are soaring after a court struck down US President Donald Trump’s tariff regime, calling it unconstitutional. The tariffs themselves remain in place as a lower court takes up further procedural issues with the case, but critics worry that the government might be forced to pay back hundreds of billions of dollars in collected tariffs. This would stretch an already hefty fiscal deficit with a large issuance of new Treasuries, the thinking goes. Across the pond, UK Gilts are separately witnessing their highest yield levels since 1998 as that country deals with extremely high government deficits. Government bonds in Germany, France and the Netherlands also hit their highest yields since 2011, according to Deutsche Bank. In the early going on Tuesday, the US 5-year Treasury saw yields rise over 1% to 3.77%, while the 30-year bounced lower after temporarily reaching 5.00%. “Yields on longer-dated government bonds in advanced countries continue to rise, with the UK notably experiencing this alongside a weaker currency—similar to what is more usual for developing countries,” said Mohamed El-Erian, Allianz’s chief economic advisor. NASDAQ 100 slides to 23,000 The NASDAQ 100 (NDX) found its footing after falling from above 23,473 to an intraday low of 21,044 on…
The post US stocks dive as UK, US bond yields surge, NASDAQ plunges appeared on BitcoinEthereumNews.com.
NASDAQ caves as US, European bond yields jump higher. A US court has called Trump’s tariffs unconstitutional, and US government could be forced to pay back tariffs. US 30-year Treasury briefly touches 5.00% on Tuesday. With a lower high already in place, traders watch for NASDAQ Composite to initiate downtrend with lower low. September seems eager to prove its reputation as a poor month for stock market performance. On the first trading day of September after the Labour Day holiday, Tuesday opened with the NASDAQ Composite plunging down 1.85%. The danger is coming from the bond market. US Treasury yields are soaring after a court struck down US President Donald Trump’s tariff regime, calling it unconstitutional. The tariffs themselves remain in place as a lower court takes up further procedural issues with the case, but critics worry that the government might be forced to pay back hundreds of billions of dollars in collected tariffs. This would stretch an already hefty fiscal deficit with a large issuance of new Treasuries, the thinking goes. Across the pond, UK Gilts are separately witnessing their highest yield levels since 1998 as that country deals with extremely high government deficits. Government bonds in Germany, France and the Netherlands also hit their highest yields since 2011, according to Deutsche Bank. In the early going on Tuesday, the US 5-year Treasury saw yields rise over 1% to 3.77%, while the 30-year bounced lower after temporarily reaching 5.00%. “Yields on longer-dated government bonds in advanced countries continue to rise, with the UK notably experiencing this alongside a weaker currency—similar to what is more usual for developing countries,” said Mohamed El-Erian, Allianz’s chief economic advisor. NASDAQ 100 slides to 23,000 The NASDAQ 100 (NDX) found its footing after falling from above 23,473 to an intraday low of 21,044 on…
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