Current Market News – Reversal of Fortune?
Global stocks continued their rapid descent Monday during a turbulent trading session. In the U.S., the S&P 500 and Dow Jones Industrial Average (DJIA) indexes fell 4.10% and 4.60%, respectively; their largest percentage drops since mid-2011 when the U.S. sovereign debt was downgraded by Standard & Poor’s. International equity markets also suffered, with early indications suggesting 4%+ down moves there as well. Equity selling pressure began last week with investor concern around rising inflation and a corresponding ascent in bond yields. While these concerns remain, the 10-year Treasury yield fell yesterday on flight to safety positioning. Download the document below to read more.