U.S. Treasuries stabilized after a volatile start to the month as investors awaited further insight on the labor market. Stock prices fell in morning trading.
Bond prices have been volatile in recent days, with the 10-year Treasury yield hitting its highest level since 2007 before falling. Stock prices followed suit, with the S&P 500 up 0.8% on Wednesday after falling more than 1% on Tuesday.
Major stock indexes fell. The S&P 500 fell about 0.4%, and the Dow Jones Industrial Average fell 0.1%. The Nasdaq Composite fell 0.6%.
Treasury bills were stable. Benchmark 10-year Treasury yields edged lower after Wednesday’s decline, closing at 4.735%.
Some EV stocks have made dramatic moves. VinFast rose after reporting quarterly sales growth, while Rivian fell after announcing a $1.5 billion bond issue. Lucid, which announced a new car, also fell. Tesla fell about 1%.
Overseas stocks are mixed. The pan-continental Stoxx European 600 rose 0.7%. In Asia, the Nikkei Stock Average rose 1.8%.Mainland China market closed for public holidays
Oil prices continued to fall. Brent crude, the global benchmark, traded around $85.50 per barrel. It fell 5.6% on Wednesday.