Powell's Speech Calms Bonds, But Oil Surge Drags Stocks
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Markets experienced a rollercoaster Monday as Powells speech eased bond yield fears, but oil prices dragged stocks and crypto down. The ten-year Treasury yield dropped to 4.35%, while the two-year fell to 3.83%. Stocks closed lower, with the Nasdaq down 0.75% and the S&P 500 off 0.4%. Bitcoin remained flat at around $66,500. Oil surged to nearly $105 a barrel, its highest since 2022, due to the Iran conflict, with Powell hinting at potential future action.
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