Stocks edge up as bond selloff takes a break: Stock market news today

Wall Street stocks edged up at Wednesday's open, as an accelerating bond rout took a breather and investors braced for the fallout from the historic ouster of the US House Speaker.The indexes suffered deeper losses earlier in the morning as US government bond yields climbed, with the 30-year Treasury yield -- US mortgage rates last week topped 7.5% for the first since November 2000 and applications for home purchases tumbled to a multi-decade low, illustrating a battered housing market.

-- A Bank of Canada official said there’s a risk firms will continue to raise prices more frequently and more sharply, complicating efforts to bring inflation back to 2%.Most Read from BloombergKey Taiwan Tech Firms Helping Huawei With China Chip PlantsWall Street Fear Gauge Ratchets Up After Jobs Data: Markets WrapWhy a US Recession Is Still Likely — and Coming SoonKevin McCarthy Ousted as US House Speaker by Republican DissidentsAirbnb Is Fundamentally Broken, Its CEO Says.

COPENHAGEN, Denmark — Shares in Scandinavian Airlines dropped more than 90% on Wednesday after the ailing carrier announced new shareholders in a restructuring scheme that will see the company delisted and existing ownership stakes erased. The rescue deal involving airline alliance Air France-KLM and private equity firms Castlelake and Lind Invest, which became investors alongside the Danish state, was presented late Tuesday.

Russia's leading tanker group Sovcomflot has transferred dozens of ships into a new Dubai based management company aiming to boost trade through this entity amid growing pressure from financial restrictions, according to maritime industry data and shipping industry sources. State-owned Sovcomflot is subject to sanctions and other restrictions by the UK and the European Union, while Washington has restricted its financial activities.

-- General Motors Co. is setting up a $6 billion line of credit to shore up liquidity, a move indicating the carmaker is preparing for a strike at US plants that may drag on with costs already reaching $200 million.

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Stock market today: Asian shares are sharply lower, tracking a rates-driven tumble on Wall StreetBANGKOK (AP) — Asian markets were sharply lower on Wednesday after Wall Street tumbled as it focused on the downside of a surprisingly strong job market: the likelihood that interest rates will stay high. U.S. futures and oil prices edged lower. Tokyo’s Nikkei 225 index sank 2.3% to 30,526.88 and the Kospi in South Korea dropped 2.4% to 2,405.69. Hong Kong's Hang Seng skidded 1.3% to 17,115.62. Troubled property developer China Evergrande was down 11% after plunging 28% on Tuesday. Australia's S
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Stock market today: Most of Wall Street slips as the bond market cranks up the pressureMost stocks are drifting lower Monday as the constrictor of higher interest rates tightens its coils around Wall Street.
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Stock market today: Unrelenting rise in Treasury yields drags Wall Street lowerWall Street is sinking again under the weight of higher yields in the bond market.
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Stock market today: Unrelenting rise in Treasury yields drags Wall Street lowerNEW YORK (AP) — Wall Street is sinking again under the weight of higher yields in the bond market. The S&P 500 fell 0.5% early Tuesday and is back to where it was in June. The Dow fell 157 and the Nasdaq composite was down 0.6%.
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Stocks pummeled as bond yields surge amid hot jobs data: Stock market news todayThe Nasdaq led losses as rising Treasury yields piled on pressure and investors got a reminder not to expect a Fed rate cut any time soon.
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Stocks pummeled, bond yields surge amid hot jobs data: Stock market news todayThe Nasdaq led losses as rising Treasury yields piled on pressure and investors got a reminder not to expect a Fed rate cut anytime soon.
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