Yields fall after US 10-year hits highest since 2002; stocks, euro also decline
SPY•The US 10-year Treasury yield retreated to 5.272% after earlier reaching 5.34%, its highest level since April 2002, while US stocks and the euro declined. Oil rose, with US crude up 1.52% to $91.79 a barrel.
1. Yields retreat from peak
The benchmark US 10-year Treasury yield fell 2.07 basis points to 5.272% after reaching 5.34%, its highest level since April 2002. US manufacturing activity was little changed in September, while prices for inputs surged amid strong demand. Investors were awaiting Friday’s monthly US jobs report.
2. Stocks and euro fall
The Dow fell 0.22%, the S&P 500 declined 0.12% and the Nasdaq dropped 0.16%. The euro fell 0.79% to $1.1238, after slipping below $1.13 for the first time since May 2025.
3. Oil advances
US crude rose 1.52% to $91.79 a barrel and Brent gained 2.81% to $100.78. Micron shares fell about 2% despite a better-than-expected revenue forecast and reporting $32 billion in customer commitments under supply agreements.
