US stocks fell on Wednesday morning as Treasury yields surged and investors monitored US diplomatic efforts with Iran and China, as well as a recent rally in tech stocks.
The Dow Jones Industrial Average traded near the flat line, while the S&P 500 declined by 0.5%. The Nasdaq Composite dropped by 1% after the tech-heavy index had posted back-to-back record highs this week.
The 10-year Treasury yield spiked above 5% again to its highest intraday level since 2007.President Trump is expected to greet Chinese President Xi Jinping at Joint Base Andrews, kicking off Xi’s first visit to Washington, D.C., in 11 years. Experts don’t expect any major policy breakthroughs, but the world leaders are expected to discuss trade, the war in Iran, rare earths, and artificial intelligence.
Yahoo Finance
