US stocks surged on Wednesday, led by technology shares, as investors refocus away from the US banking crisis and towards the direction of interest rates through the rest of the year.
Following the collapse of Silicon Valley Bank, interest rates have dropped to levels not seen in months, with the 2-Year US Treasury yield hovering around the 4% level, while the 10-Year US Treasury yield sits at about 3.6%. That's a far cry from the levels seen earlier this month, with the 2-year above 5% and the 10-year above 4%.
The fall in yields is boosting the types of stocks that were penalized for soaring interest rates, mainly technology stocks. The
why aren’t you covering the RESTRICT Act?
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. stock futures stable while tech companies lag after flight to safetyAnother day without any negatively dramatic news from the financial sector allowed equity markets to mostly stand their ground.
Read more »
Stock Market News: Tech stocks hurt by rising bond yieldsUS stocks fall as rising bond yields pressure tech amid easing banking sector fears
Read more »