Here are the most important news items that investors need to start their trading day:
1. Treasury yields soar
The 10-year Treasury yield reached a dizzying new high, breaking above 4.9% for the first time since 2007 — and is edging ever closer to 5%. Meanwhile, stocks fell swiftly and none of the three major indexes traded in positive territory at any point during the session. But, there were some bright spots in the market. Netflix surged 12% after hours and Procter & Gamble was up 2.6% in regular trading on solid earnings reports (more on that later). Looking ahead, spooked investors will be watching for any assurances from Fed Chair Jerome Powell when he speaks Thursday. Follow live market updates.
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