The bond market swings back to worries and knocks US stocks lower
- US stocks fell sharply after worries returned to the bond market, with the S&P 500 down 0.9%, the Dow down 703 points, and the Nasdaq down 1%.
- Rising oil prices, inflation concerns, and the U.S. government’s increasing debt added pressure on Treasury yields and equities.
- Treasury Secretary Scott Bessent said the government would at least double planned purchases of longer-term Treasurys for a period from Sept. 9 through Nov. 4, which briefly eased yields.
- The relief in bonds was temporary, and the 10-year Treasury yield moved back up to 4.70% after having fallen the day before.
- Walmart was the biggest drag on the S&P 500 and dropped 9.2% on concerns about upcoming profits.
- The U.S. government’s debt crossed $40 trillion, while Brent crude rose 2.4% as uncertainty persisted around oil shipments through the Persian Gulf.
Wall Street sold off as worries in the bond market resurfaced. The S&P 500, Dow Jones Industrial Average, and Nasdaq all closed lower, marking the market’s worst day in three weeks. Higher Treasury yields, along with oil-price gains and inflation concerns, weighed on stocks.
The move came after a brief reprieve on Wednesday, when Treasury Secretary Scott Bessent said the government would increase purchases of longer-term Treasurys for a limited period. That helped push yields down temporarily, but analysts said the effect was likely to be short-lived because it does not address the larger concerns behind the recent rise in yields.
Those concerns stayed elevated as U.S. government debt topped $40 trillion and Brent crude rose on uncertainty tied to Iran and shipping through the Persian Gulf. The 10-year Treasury yield moved back up to 4.70%, near its recent highs.
Walmart was the biggest drag on the S&P 500, falling 9.2% on worries about future profit. Overall, the report points to a negative near-term market tone for stocks, while higher yields and inflation pressure remain a supportive factor for the dollar and a headwind for bonds and risk assets.
债市忧虑回升拖累美国股市下跌
随着债市担忧重新升温，华尔街出现抛售。标普500、道琼斯工业平均指数和纳斯达克指数均收低，创下三周来最差单日表现。美债收益率走高、油价上涨以及通胀担忧共同压制了股市。
此前一天市场曾短暂获得喘息。美国财政部长贝森特表示，政府将在有限时间内增加长期美债购买，这一举措曾推动收益率暂时回落。但分析人士认为，这种影响可能不会持续，因为它并未解决推动收益率上行的根本问题。
相关压力仍在累积：美国政府债务突破40万亿美元，布伦特原油因伊朗及波斯湾航运不确定性而上涨。10年期美债收益率回升至4.70%，接近近期高位。
沃尔玛是标普500指数中拖累最大的个股，因市场担心未来利润而下跌9.2%。整体来看，这篇报道对股市影响偏利空；而对债券和风险资产是压力，对美元则偏中性到略偏强。