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- US stocks tumbled Thursday as the 10-year Treasury yield kept climbing and hit the highest level since 2007.
- Measured on a daily basis, using a single reference price, the benchmark rate reached 4.3237%.
- Indexes gave up early gains to finish lower, with the Dow notching its third consecutive decline.
US stocks tumbled Thursday as the 10-year Treasury yield kept climbing and hit the highest level in nearly 16 years.
Measured on a daily basis, using a single reference price, the benchmark rate reached 4.3237%, a level not seen since November 2007. Other measures showed the 10-year yield at the highest since October 2022.
On Wednesday, minutes from the Federal Reserve's meeting last month revealed that policymakers remained concerned about inflation and were open to further rate hikes.