US stocks, particularly the tech-heavy Nasdaq, sold off sharply on Thursday with markets rattled by the latest spike in US Treasury yields with the 10-year T-note reaching 1.6%, it’s highest in more than a year. An anticipation of inflation is accompanying improving economic data and some investors are worried this will force the Federal Reserve to tighten despite Jerome Powell’s statement on Wednesday that they are committed to easy policy. US jobless claims data came in better-than-expected as did durable goods orders. Sometimes the market will take good news as bad news.
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