New York — Wall Street stocks tumbled in a broad sell-off on Tuesday as the upward trajectory of US treasury yields and deepening inflation concerns dampened risk appetite and sent investors fleeing the equities market.
“It's all about rising yields,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Weakness pervaded across most asset classes, including gold, suggesting widespread risk-off sentiment. Yellen on Tuesday appeared along with Federal Reserve chair Jerome Powell before the Senate banking committee.
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