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The Economic Times

US stocks slip as 10-year Treasury yield hits 5.3445%, offsetting software gains

AI Market Summary
US equities traded lower as a renewed bond selloff pushed the 10-year Treasury yield to 5.3445% (highest since 2002), tightening financial conditions and pressuring rate-sensitive sectors such as housing and banks. While software stocks outperformed on strong earnings guidance (notably Accenture), the broader risk tone weakened as higher risk-free rates challenge valuations and lift volatility ahead of the Q3 earnings season and key Fed communications.
Impact level
● High
Affected assets
NCSISP5002USD/USDT-0.26%
AI Insight · NCSISP5002USD/USDTAI Insight
▼ Bearish
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US stocks came under pressure as the 10-year Treasury yield climbed to 5.3445%, its highest level since 2002, weighing on demand for richly valued shares. Rate-sensitive sectors led the declines, with housing shares down 1.4% and banks off 2.2%. Software stocks bucked the broader weakness, lifting the S&P 500 software index 1.7% to its highest level since November, after Accenture surged 22% on a stronger-than-expected full-year revenue growth forecast.
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