'Market anxiety' returns after the latest inflation surge, 10-year treasury jumps above 2% by skleb1234
The red-hot inflation data also sent government bond yields surging higher: The 10-year Treasury note briefly jumped above 2% on Thursday, its highest level since August 2019 and up from 1.5% in December.
Big Tech and other growth stocks came under pressure following the inflation data, with shares of Amazon and Microsoft each down over 1%, while shares of bank stocks rose on the prospect of higher interest rates. Solid earnings reports from several companies helped limit the market’s downside, however: Entertainment giant Disney rose nearly 6%, while ridesharing service Uber gained 4% and soft drink giant Coca Cola 1.5%. “With another surprise jump in inflation in January, markets continue to be concerned about an aggressive Fed,” says Barry Gilbert, asset allocation strategist for LPL Financial.
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