Episode Details

The S&P 500 fell on Tuesday, pressured by a run in sovereign bond yields to multidecade highs amid concerns of persistent inflation and elevated oil prices. A pullback in semiconductor stocks also weighed on the broader market.

The broad market index declined 0.69% to 7,691.76 and posted a third consecutive losing session. The Nasdaq Composite was down 1.33% to end at 26,289.71. Western Digital fell 7%, weighing on the Nasdaq. Sandisk dropped 9%. Marvell Technology and Seagate Technology were also down by nearly 8% and more than 9%, respectively. The Dow Jones Industrial Average shed 116.38 points, or 0.22%, and closed at 53,343.40.

The U.S. 30-year Treasury bond yield scored a fresh 19-year high Tuesday. Elsewhere, Japan’s 10-year bond yield reached its highest level in three decades. Germany’s 30-year bond yield hit its highest since 2011, and the French 30-year government bond yield reached its highest point since 2008.

SPI down 24 - Results in focus - EVN - TPW - RBA deputy speaks today.

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