Bond market worries return and push US stocks lower
- US stocks fell sharply after worries in the bond market returned, with the S&P 500 down 0.9%, the Dow down 703 points, and the Nasdaq down 1%.
- Treasury Secretary Scott Bessent said the Treasury would at least double its planned purchases of longer-term Treasurys from Sept. 9 through Nov. 4, which briefly pulled yields lower.
- The 10-year Treasury yield rose back to 4.70% as oil prices climbed and concerns about inflation and U.S. government debt remained elevated.
- The U.S. national debt topped $40 trillion, adding to market unease about federal borrowing and spending.
- Walmart fell 9.2% and was the biggest drag on the S&P 500 after investors worried about its upcoming profits.
US stocks fell on Thursday as bond market concerns returned, reversing some of the relief that had come a day earlier. The S&P 500 dropped 0.9%, the Dow Jones Industrial Average fell 703 points, and the Nasdaq composite declined 1%, marking the market’s worst day in three weeks.
Treasury yields moved higher again after the 10-year yield had recently reached its highest level in more than a year. The Treasury Department’s plan to increase purchases of longer-term Treasurys briefly eased pressure, but analysts said the move was too small to address the underlying concerns driving yields higher.
Inflation worries, rising oil prices, and the U.S. government’s debt crossing $40 trillion all added to the pressure on bonds and equities. Stronger-than-expected U.S. economic data also pushed longer-term yields up, reinforcing expectations that rates may stay elevated.
Walmart was the biggest drag on the S&P 500, falling 9.2% as investors focused on its profit outlook. The report points to a negative near-term market impact for U.S. stocks, while higher Treasury yields can also weigh on other risk assets.
债市担忧回潮拖累美国股市下跌
周四，随着债市担忧重新升温，美国股市下跌，前一日短暂出现的缓解情绪迅速消退。标普500指数跌0.9%，道琼斯工业平均指数下跌703点，纳斯达克综合指数下跌1%，这是三周以来最差的一天。
美债收益率再次上行。此前，10年期美债收益率已升至一年多来的高位；美国财政部宣布增加长期国债购买后，收益率曾短暂回落，但分析人士认为，这一措施规模有限，难以解决推动收益率上升的根本问题。
通胀担忧、油价上涨以及美国国债总额突破40万亿美元，继续给债券和股票市场带来压力。好于预期的美国经济数据也推高了长期收益率，强化了市场对利率可能维持高位的预期。
沃尔玛是标普500指数中最大的拖累，股价下跌9.2%，原因是投资者关注其利润前景。就市场影响而言，这篇报道对美国股票是偏利空信号，而更高的国债收益率通常也会压制其他风险资产。