Wall Street Falls at Open as Bond Yields Surge to New Highs; Dow Down 80 Pts By Investing.com

© Reuters

By Geoffrey Smith 

Investing.com — U.S. stock markets fell again at the opening on Wednesday, as fears of higher inflation drove long-term bond yields higher. 

The 10-year Treasury not yield rose to a new 12-month high of 1.43%, after Federal Reserve Chairman Jerome Powell recommitted in testimony to the Senate Banking Committee to a policy stance that is aggressively reflationary. He’s expected to repeat such lines again from 10 AM ET (1500 GMT) in remarks to the House of Representatives.

By 9:40 AM ET (1440 GMT), the was down 80 points, or 0.3%, at 31,458 points. The was also down another 0.3% while the was again undeperforming with a drop of 0.8%.

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