The selling that began Thursday rolled into Friday, sending stocks on a two-day ride downward amid higher interest rates even as investors eyed mostly solid payrolls data.
The yield on the benchmark 10-year Treasury note climbed to new seven-year highs above 3.2% by late Friday, and that appeared to interrupt the party stocks threw earlier this week when the Dow Jones Industrial Average hit new all-time highs. The Dow fell nearly 1% on Thursday and was down more than 0.6% into Fridays closing bell.
Economic Growth and Yields
Treasury yields continued higher on Friday as economic data continued to show strength. True, the headline number on the September jobs report was disappointing, s…
Read the full article at: https://www.forbes.com/sites/jjkinahan/2018/10/05/wall-street-heads-lower-as-jobs-report-helps-lift-debt-yields/