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10-year Treasury note plummeted to 2.816 %
US stock futures and Treasury yields tumbled early Monday as investors kept a close eye on the Federal Reserve’s plans to raise interest rates.
Dow Jones Industrial Average futures dropped 0.9 %. The S&P 500 futures ticked down 1% and the Nasdaq futures declined 0.9 %.
During the regular trading on Friday, All the three major Wall Street indices traded in red as the Dow fell 981.36 points, or 2.8%, to 33,811.40. The S&P 500 was plunged 2.8% to 4,271.78, for its worst day since March, while the Nasdaq Composite declined by 2.6% to 12,839.29.
Treasury yields
The yield on the benchmark 10-year Treasury note plummets to 2.816 %. The 30-year Treasury yield falls to 2.882 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.
Treasury rates fell substantially on Monday morning, following a jump at the end of last week in response to remarks by Federal Reserve Chairman Jerome Powell.
Powell stated on Thursday that a rate rise of 50 basis points was on the board for the Fed's May policy meeting.
Picture Credits: Reuters
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