US stocks battered as treasury yields rise

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  • 2021-02-26 HKT 04:23″ title=”High treasury yields point to a rise in inflation and higher interest rates. Photo: Shutterstock”>


    High treasury yields point to a rise in inflation and higher interest rates. Photo: Shutterstock
    High treasury yields point to a rise in inflation and higher interest rates. Photo: Shutterstock

Wall Street stocks were sharply lower following an ugly session Thursday as US Treasury yields hit a new 52-week high amid investor fear of rising inflation.

The Dow Jones Industrial Average fell 1.8 percent to finish at 31,402, retreating from an all-time high set Wednesday.

The broad-based S&P 500 fell 2.5 percent to end at 3,829, while the tech-rich Nasdaq Composite Index sank 3.5 percent to 13,119. (AFP)