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Diaranson, 4 October 2023 AWEMainta BUSINESS & FINANCE 41

Stock Market Sees Volatility as

Treasury Yields Surge Above 4.7%

TREASURY yields have experienced a significant upswing,
surpassing the 4.7% mark, which has led to notable fluc-
tuations in the stock market. This development comes as
investors are increasingly convinced that the robust state of

the economy will result in sustained higher borrowing costs.

In recent weeks, yields have been on the rise, fueled by the
unwavering resilience of the U.S. economy. This resilience

has dashed hopes among investors that the Federal Reserve
might consider rate cuts in the near future. Consequently,
the surge in yields is providing investors with an alternative
avenue for generating returns, somewhat dampening the

appetite for riskier assets such as stocks.

Among the casualties in today’s stock market turmoil are the
Dow industrials, currently tracking their worst performance

since March. On Tuesday, newly released data unveiled a
rise in job openings to 9.6 million in August, compared to Additionally, international stocks faced declines, with
8.9 million in July. indexes in Europe and Asia experiencing negative trends.
Hong Kong’s Hang Seng index recorded a notable drop of

In the afternoon trading session: 2.7%. It’s worth noting that mainland Chinese markets
Stock indexes experienced a downturn, with all three major remain closed for a holiday this week.
U.S. indexes registering declines exceeding 1%. The Dow This recent surge in Treasury yields and its consequential
industrials saw a drop of approximately 400 points, poten- impact on financial markets highlight the delicate balance

tially erasing its gains for the year. between economic strength and the potential implications
for investors and asset classes.
Treasury yields continued their upward trajectory, with
the yield on the 10-year U.S. note surpassing 4.75%. This

follows Monday’s settling at 4.682%, marking its highest
level since October 2007.

McCormick’s stock witnessed a decline as the spice company

reported a quarterly profit decrease from the previous year.
While sales rose, higher pricing offset a volume decline.
Netflix shares initially gained ground but later receded
slightly. This fluctuation followed reports that the company

plans to increase the price of its ad-free service, as featured
in the Wall Street Journal.

Point Biopharma experienced a surge in stock value as Eli

Lilly announced its acquisition of the company, known for
its pipeline of cancer therapies. Shares soared by an impres-
sive 85%. bin bishita nos y probecha!
The rally of the U.S. dollar took a brief pause, with the WSJ Paña di bon calidad na bon prijs.

Dollar Index showing minimal change after reaching its Adres: Avenida Milio J. Croes 47 local 3
highest level of the year the day before. Telefon: 5646733 – 5653466
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