US Federal Reserve Chairman Jerome Powell said Thursday that he would be ‘concerned’ by disorderly markets, but stopped short of offering steps to curb heightened volatility.
The surge in United States Treasury yields has triggered fears about elevated stock valuations after a torrid equity rally during the depths of the coronavirus pandemic [File: Koriyama/Bloomberg]
Stocks and bonds sold off after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more forcefully against the recent spike in Treasury yields.
The S&P 500 briefly erased its 2021 gains, notching its lowest close in about five weeks. Benchmark 10-year bond rates topped 1.5% and the dollar climbed. The Nasdaq 100 extended losses from a February peak to almost 10%, and the Russell