Stocks Tumble, Tech Stands Firm, Treasuries Enter Turmoil As Jerome Powell Speaks: What’s Driving Markets Monday?

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October kicked off with a familiar refrain, echoing the turbulence that characterized September. Once again, the persistent surge in Treasury yields takes center stage, creating an atmosphere of uncertainty and unease among traders. The 10-year Treasury yield has surged to 4.70%, while the 30-year yield has breached the 4.80% threshold, both up by 10 basis points on the day. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) plummeted by nearly 2% as of midday trading in New York, hitting the lows from August 2007. In parallel, Federal Reserve ChairJerome Powell engaged with Philadelphia Fed …

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