The S&P 500 fell half a per cent on Tuesday and the Nasdaq Composite dropped more than one per cent, as a surge in US government bond yields to multidecade highs rattled investors.
The yield on the 30-year US Treasury bond hit a fresh 19-year high, and analysts point to several factors behind the sell-off in government bonds.
Mitch Mccann in New York says there are multiple reasons driving the decline.
IN: “The first reason...”
OUT: “...is persistent inflation.”
DUR: 33 seconds
http://www.fsnradionews.com/feeds/0818-1655mccann-marketslatest1.mp3
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Mitch Mccann, our reporter in New York, says the rise in bond yields has direct consequences for ordinary Americans' borrowing costs.
IN: “The reason is...”
OUT: “...throughout the economy.”
DUR: 23 seconds
http://www.fsnradionews.com/feeds/0818-1655mccann-marketslatest2.mp3