The 10-year US Treasury yield climbed to 5.058%, its highest level since July 2007, as fresh services and manufacturing data raised concerns about further Federal Reserve rate hikes. Rising yields intensified pressure on equities, particularly growth and technology stocks.
US stocks: S&P, Nasdaq end over 1% higher as AI-fueled optimism weighs
CoreWeave reported strong earnings, easing investor concerns about spending on AI infrastructure and boosting stock prices. Both the S&P 500 and Nasdaq witnessed gains following