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Wall Street dips as surging Treasury yields outweigh software gains
Wall Street’s main indexes slipped on Thursday as a deepening bond selloff drove Treasury yields to multi-decade highs, outweighing gains in software stocks. Although AI enthusiasm continues to power U.S. stocks, soaring Treasury yields are testing investors’ appetite for richly valued shares as inflation and government borrowing keep interest-rate concerns firmly in focus. Global bond markets came under renewed pressure, with the yield on the benchmark 10-year Treasury note touching 5.3445%, its highest since 2002, a day after Treasuries logged their worst quarter since 1994. “When a safe gov...
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