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U.S. stocks fall as 10-year Treasury yield tops 5%

  • U.S. stocks fell as the 10-year Treasury yield moved back above 5%.
  • Nasdaq Composite dropped 308.24 points, or 1.13%, to 26936.04.
  • Dow and S&P 500 declined 0.68% and 0.75%, respectively, during the session.

U.S. stocks fell as the 10-year Treasury yield rose above 5%, reaching its highest level since 2007. The tech-heavy Nasdaq Composite led losses, dropping 1.13% after hitting record highs in the previous two sessions. The Dow Jones Industrial Average declined 0.68%, while the S&P 500 fell 0.75%.

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