(Reuters) - U.S. stocks tumbled on Tuesday as bond yields shot to their highest in five years, stoking fears that higher borrowing costs could cut into corporate profits and discourage takeovers.
Bond market investors have all but given up expectations for a Federal Reserve rate cut this year as the pace of economic activity strengthens, fueling concerns about inflation. That weighed on the financial and utility sectors, which are the most sensitive to higher interest rates.
Read more at Reuters Africa
Bond market investors have all but given up expectations for a Federal Reserve rate cut this year as the pace of economic activity strengthens, fueling concerns about inflation. That weighed on the financial and utility sectors, which are the most sensitive to higher interest rates.
Read more at Reuters Africa
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