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US stocks fall as US 10-year Treasury yields pass 5%

23 Oct 2023 - Stocks retreated Friday as a surge in the 10-year Treasury yield prompted broader concerns about the state of the economy. The yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years on Thursday, a level that could ripple through the economy by raising rates on mortgages, credit cards, auto loans and more. Not to mention, it offers investors an attractive alternative to stocks.

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