151 days ago • Posted by William Ramstein

Stocks take a punch on rising yields and Goldman's breaking point:

As 10-year Treasury yields added as much as 10 basis points, their total increase for February reached 40 points. That’s more than the 36-point threshold that Goldman Sachs Group Inc. strategists warned could cause trouble for stocks. Bonds tumbled in early afternoon amid a sudden wave of selling after demand cratered at the Treasury’s 7-year note auction. Equities reacted with a net of 1,739 stocks on a down tick at one point, the second-biggest selling bout this year. Highly-valued shares such as Tesla Inc. led the retreat, while the Nasdaq 100 plunged as much as 3.7%. Source: Bloomberg