Dow Slides 400 Points as Waller’s Hawkish Fed Signals Push 10-Year Yield to 4.35%
Updated
Updated · cryptorank.io · Jun 18
Dow Slides 400 Points as Waller’s Hawkish Fed Signals Push 10-Year Yield to 4.35%
2 articles · Updated · cryptorank.io · Jun 18
Summary
More than 400 Dow points vanished Tuesday after Fed Governor Christopher Waller said the central bank is in no rush to cut rates, knocking the index down about 1.1% and extending the prior session’s losses.
Waller pointed to persistent inflation and a resilient labor market, saying officials need greater confidence inflation is heading sustainably to the 2% target before easing.
Treasury markets quickly repriced that stance: the 10-year yield climbed to 4.35%, and traders cut expectations for a March rate cut in favor of a higher-for-longer path.
That shift weighed on rate-sensitive stocks and broader risk assets including crypto, with investors now focused on Thursday’s CPI report for confirmation or another setback to cut hopes.