Rising Treasury yields cap global stocks; traders weigh tariffs, Fed rate cuts
(Refiles to fix typo in headline)
By Chibuike Oguh, Alun John
NEW YORK/LONDON :A selloff in global bonds continued on Wednesday, pressuring Wall Street stocks and boosting the dollar as signs of continuing strength in the U.S. economy dimmed expectations for aggressive near-term interest rate cuts.
The benchmark 10-year U.S. Treasury yield rose as high as 4.73 per cent, a peak since April 2024, building on Tuesday’s 7 basis point rise. It was last up 0.2 basis points to 4.687 per cent.
On Wall Street, benchmark S&P 500 traded lower for much of the session but finished higher. The Dow also closed higher, while the Nasdaq ended lower. Stocks in healthcare, materials, consumer staples, real estate, and industrials drove gains. Communication…
