New York Stocks Fall as Bond Yields Jump, Nasdaq Drops 1.5% After US-China Summit

New York stocks declined as bond yields surged and the US-China summit ended without notable results. Investors focused on the pressure from rising rates and the lack of a clear agreement from the meeting between the two leaders. The tech-heavy Nasdaq fell 1.5%, leading weakness among major indexes. The jump in bond yields was seen as a burden for growth and technology shares, while hopes for improved US-China relations failed to translate into concrete outcomes. Market attention is now on the path of yields and any follow-up signals related to US-China ties. Source: hankyung.com