Oil Surges, Treasury Yields Climb a Fifth Day, Software Retreats: Stock Market Today
The 10-year Treasury yield hit a 19-month high and crude jumped above $88 as traders lifted Fed rate-hike odds to 68%, cracking high-multiple software stocks.
Oil prices went up and interest rates climbed higher, which made some expensive tech stocks fall because borrowing money costs more now. When interest rates rise, investors think differently about which companies are worth buying.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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