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  • NEWS Desk Global

STOCKS WILT AND BOND YIELDS JUMP AS INVESTORS FOCUS ON RATES




A global equities gauge fell on Wednesday while benchmark U.S. Treasury yields rose as investors worried about interest rates a day after a weak bond auction and waited for a key U.S. inflation. The dollar held firm, rising against the Japanese yen as placid markets encouraged investors to resume carry trades. MSCI's gauge of stocks across the globe fell 7.54 points, or 0.95%, to 784.91, putting it on track for its biggest daily decline since April 30.

"It's the aftermath of the bond auction Tuesday. Auction anxiety has set in," said Brian Jacobsen, chief economist at Annex Wealth Management. "To the extent it means interest rates are going to rise that can be worrying when consumers are already showing some signs of spending fatigue." As of 11:37 a.m. ET, the Dow Jones Industrial Average fell 320.84 points, or 0.83%, to 38,532.02, the S&P 500 slid 30.52 points, or 0.58%, to 5,275.44 and the Nasdaq Composite lost 65.09 points, or 0.38%, at 16,954.79.

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