Market Watch: Stocks Clobbered Amidst Rising Bond Yields

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U.S. stock futures were lower Thursday, as investors turned a wary eye towards rising 10-year Treasury yields.

Yields move in the opposite direction of the bond’s price, so it was alarming when the European trade market saw bonds exceed 2.4 percent—the highest mark in 2015. The volatility seen in the bond market of late—swings in excess of 3% per day—once again serve as a harsh reminder than the bond market can be as risky as securities.

European markets were also lower on Thursday, as Greece’s continued struggles to find answers to their debt woes take their toll.

Tomorrow, of course, is the expected highlight of the week on Wall Street—May’s job report.

Here are the final numbers from Thursday on Wall Street:

Dow Jones Industrial Average: 17,905.58 (-170.69)

NASDAQ: 5,059.12 (-40.11)

S&P 500: 2,095.84 (-18.23) 

Phil Cannella
Partnered with CBS Radio Network, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

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