Rising bond yields sink US stocks as national debt tops $40 trillion

The 10-year Treasury yield climbed to 4.69% and the 30-year to 5.23%, unwinding the buyback rally, while the Russell 2000 fell 1.34% and Walmart dragged the Dow down 1.32%.

Deepakshi

Kristal Research & Marketing team

21 Aug

Key takeaways — AI summary

US bond yields reversed higher — the 10-year rose about 0.05 points to 4.69% and the 30-year hit 5.23% — after Thursday's buyback operation drew just $1.86 billion of the $10.16 billion offered against a $4 billion cap; the national debt crossed $40 trillion this week.
Stocks fell unevenly: the Russell 2000 dropped 1.34%, the Dow 1.32% (dragged by Walmart), the S&P 500 0.87% and the Nasdaq 100 0.72%, with only Energy (+0.38%) and Real Estate (+0.15%) higher.
Data was mixed: weekly jobless claims fell to 206,000 versus 210,000 expected, but the Philadelphia Fed factory survey jumped to 47.4 against 25.0 expected, its strongest since April 2021.
Oil climbed as US crude settled $2.44 higher at $86.83 and Brent at $93.78 on Middle East escalation reports; gold rose 0.45% to $4,539.
Movers included Walmart's worst day since May 2022 on slowing US comparable sales, Advance Auto Parts down 24.55% and Moderna down 23.55%, while Ross Stores jumped 7.92% after hours and Coinbase gained 7.58% alongside a 6.6% Bitcoin rally.

Generated by Kristal AI · reviewed by the research desk

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