U.S. Treasury yields spike, sparking stock sell-off
The Dow Jones Industrial Average fell 193 points on Tuesday, breaking an eight-day winning streak.
A major culprit was spiking yields on U.S. Treasury notes, which reflects both U.S. economic strength and concerns about rising borrowing costs for both consumers and the government.
- Yields on benchmark 10-year Treasuries hit their highest level since 2011
- Yields on 2-year Treasuries hit their highest level since 2008.