Posted 10/19/2023, 7:30:00 PM
Stocks Fall as Treasury Yields Climb, Job Market Stays Strong While Tesla and Netflix See Big Stock Swings
- Wall Street falls as 10-year Treasury yield nears 5%, putting pressure on stocks.
- Higher yields raise borrowing costs, weighing on corporate profits and slowing the economy without Fed action.
- Job market remains strong despite higher rates, indicating resilience but also fuel for inflation.
- Tesla shares plunge on weaker-than-expected profits as it cuts prices to drive sales.
- Netflix stock surges on earnings beat, plans to raise prices to boost revenue.