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The 10-year Treasury yield spiked to 5.13%, its highest level since July 2007, as investors digested strong PMI data and Fed hawkishness. That surge sent borrowing costs climbing across the economy.
| Index | Change | % Change |
|---|---|---|
| Nasdaq Composite | Down 1.4% | Tumbled on rate fears |
| S&P 500 | Down 0.9% | Fell as yields surged |
| Dow Jones | Down 350 points | Slid to ~51,500 |
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