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- US stocks were mixed on Wednesday as investors digested higher interest rates and oil prices.
- The 10-Year US Treasury yield surged to 4.64%, representing its highest level since August 2007.
- Crude oil prices surged 4% to $94 a barrel, representing its highest level since August 2022.
US stocks ended Wednesday mixed in a whiplashed trading session as investors digested new highs in interest rates, oil prices, and the US dollar.
Those three macro forces have been driving stock prices in recent weeks, helping drive a sizable September sell-off in the S&P 500 and Nasdaq 100, as investors grow concerned about the negative impact oil prices have on consumer sentiment, a higher dollar has on corporate profits, and higher interest rates have on equity valuations.