Treasury Sell-Off Sends Shockwaves: Magnificent 7 Grapples With Worst Day Since August, S&P 500's 200-Day Average Test Looms
Portfolio Pulse from Piero Cingari
A widespread sell-off in the U.S. stock market was triggered by a surge in Treasury yields, with the 30-year yield reaching 4.95% and the 10-year yield climbing above 4.80%. This resulted in the highest levels for these rates in over 16 years. The CBOE Volatility Index (VIX) surged by 15%, reflecting increased market anxiety. Major stock indices and tech giants, including Apple, Microsoft, Alphabet, Amazon, Meta Platforms, NVIDIA, and Tesla, all experienced declines. The S&P 500 Index is nearing its 200-day moving average, a critical technical test that could indicate a change in trend.

October 03, 2023 | 8:52 pm
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NEGATIVE IMPACT
Apple Inc. (AAPL) saw a decline in its stock price due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting Apple's stock price directly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Amazon.com, Inc. (AMZN) saw a decline in its stock price due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting Amazon's stock price directly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The SPDR Dow Jones Industrial Average ETF Trust (DIA) fell 1.5% due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting the DIA ETF directly as it tracks the Dow Jones Industrial Average.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Alphabet Inc. (GOOG) saw a decline in its stock price due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting Alphabet's stock price directly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Meta Platforms Inc. (META) saw a decline in its stock price due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting Meta Platforms' stock price directly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Microsoft Corp. (MSFT) saw a decline in its stock price due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting Microsoft's stock price directly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA Corp. (NVDA) saw a decline in its stock price due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting NVIDIA's stock price directly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ Trust Series 1 (QQQ) tumbled by 2% due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting the QQQ ETF directly as it tracks the NASDAQ-100 Index.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) experienced a 1.6% decline due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting the SPY ETF directly as it tracks the S&P 500 Index.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Tesla Inc (TSLA) saw a decline in its stock price due to the surge in Treasury yields.
The surge in Treasury yields has led to a sell-off in the stock market, impacting Tesla's stock price directly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100