10-Year Yield Hits 5.03%, Highest Since 2007, Pressuring Nasdaq 100
NDX sits 27% above its 52-week low of $22,841.417 on light trading volume (0.1× avg).
Summary
The 10-year Treasury yield spiked to 5.03%, its highest since 2007, before easing to 5.00%, as traders brace for a likely Fed rate hike on Wednesday. The Nasdaq 100 slipped 0.1% at the open, with Microsoft and Alphabet leading the Magnificent 7 lower. Rising risk-free rates are forcing equities to compete with ~5% cash yields, and analysts warn that further yield increases could pressure valuations. The Fed decision on Wednesday is the immediate catalyst, with AI infrastructure spending flagged as the biggest medium-term risk.
At the time of this announcement, NDX was trading at $29,108.11 on NASDAQ in the Technology sector. The 52-week trading range was $22,841.42 to $30,762.20. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Moneycontrol.