Stocks were walloped today, as red-hot bond yields dented investor sentiment. The Dow shed 816 points, while the S&P 500 and Nasdaq sold off in dramatic fashion as well, the latter reversing a modest gain. All three major indexes suffered their worst single-session declines since April 21.
The 30-year Treasury yield was last seen at 5.10%, its highest level since 2023, and the 10-year Treasury yield at 4.5%. With Wall Street wary of a soon-to-be-passed budget bill piling on the debt level, the Cboe Volatility Index (VIX) reclaimed 20 today.
Continue reading for more on today's market, including:
- Cybersecurity stock gaps lower after earnings.
- 3 defense stocks to watch amid 'Golden Dome' news.
- Plus, China stock soars; retail stock data for MDW; and energy stocks to know.
5 Things to Know Today
- OpenAI just made its largest acquisition yet. (CNBC)
- States are mounting legal challenges against President Trump's tariffs. (Reuters)
- How this China EV stock won the day.
- Which retail stock should you target next week?
- How have energy stocks fared as oil prices chop?
U.S. Supplies Spike Dings Oil
Oil prices fell victim to a surprise gain in U.S. crude supplies today. June-dated West Texas Intermediate (WTI) lost 46 cents, or 0.7%, to settle at $61.57 per barrel.
Gold prices took advantage of a weak dollar and safe-haven demand today. June-dated gold futures gained 0.7% to finish at $3,307 per ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
