Weak Auction of Government Debt Jolts Markets
Trouble has been stirring in the bond market for weeks. On Wednesday, the anxiety spread to the stock market.
A weak auction for 20-year bonds exacerbated worries about rising deficits in Washington and drove sharp declines for stocks and bonds, sending the Dow Jones Industrial Average down more than 800 points and the 30-year Treasury bond yield to the highest level since 2023.
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