U.S. stocks and futures moved lower on Thursday as rising Treasury yields and elevated oil prices weighed on markets, according to CNBC.
Key facts
- Dow futures fell by as much as 500 points before paring losses to around 300 points, according to CNBC updates.
- Treasury yields continued to climb, adding pressure on equities.
- Oil prices surged, gaining between 4% and 5% during the session.
- The S&P 500 slid as yields continued their climb.
U.S. stock futures were lower on Thursday as investors faced growing pressure from rising Treasury yields and elevated oil prices, according to CNBC’s live market coverage.
Early in the session, Dow futures tumbled by as much as 500 points, according to CNBC. As the day progressed, the losses narrowed, with futures sliding by around 400 points and later easing to roughly 300 points lower.
Treasury yields continued their upward climb throughout the session, a trend that added to the pressure on equities, CNBC reported. Rising yields can weigh on stocks because they increase borrowing costs and offer investors higher returns on lower-risk government debt.
Oil prices were another source of strain for the markets. Crude surged during the session, with CNBC reporting gains of as much as 5%, and at one point registering a 4% advance. Elevated oil prices can stoke concerns about inflation and higher costs for businesses and consumers.
By later in the trading day, the pressure extended to the broader market, with the S&P 500 sliding as Treasury yields continued their climb and oil held onto gains of about 5%, according to CNBC’s updates.
CNBC characterized the day’s movement as investors facing continued pressure from the combination of rising yields and elevated oil prices, with markets remaining lower into Thursday’s session.
Why it matters
Rising Treasury yields and higher oil prices are closely watched indicators that can signal shifting conditions for borrowing costs, inflation and corporate profits. When both climb together, they can put sustained pressure on stocks, affecting retirement accounts and investment portfolios for everyday people.
Frequently asked questions
How far did Dow futures fall on Thursday?
According to CNBC, Dow futures tumbled by as much as 500 points early in the session before paring losses to around 400 points and later roughly 300 points.
Why were stocks under pressure?
CNBC reported that investors faced pressure from rising Treasury yields and elevated oil prices.
How much did oil prices rise?
Oil surged during the session, gaining between 4% and 5%, according to CNBC's updates.