NewsNovo
equities slipped through Friday's midday session as the 10-year Treasury yield touched 5.00% and traders repriced the growing probability of a second Federal Reserve rate hike in October.
The complication is that crypto moved the other way: Bitcoin reclaimed the $80,000 mark and Coinbase Global rallied more than 10%, even after the long-awaited Clarity Act failed to get the votes it needed in the Senate.
The equity read-through As of 11:44 AM ET, the S&P 500 (^GSPC) was off 0.19% at 7,623, the Nasdaq Composite (^IXIC) had slipped 0.13% to 26,384, and the Dow Jones Industrial Average (^DJI) was down 0.42% at 51,561.
The broad index looks likely to close the week in negative territory. Industrials and basic materials were the session's weakest sectors; utilities alone showed gains.
Keep reading