Share Market News: Global markets sell off as yields continue to spike | Editorji
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Global Markets See Sell Off

Feb 26, 2021 08:29 IST | By Editorji News Desk

Global markets under pressure as Wall Street saw the worst sell-off since October. The 500 stock gauge S&P saw the biggest drop in a month sliding 2.5%.  The tech tumble exaggerated it's losses with the Nasdaq Composite slid 3.5%, this marks it's biggest sell-off since Oct. 28. Marquee names like Alphabet, Facebook, and Apple all fell more than 3%, while Tesla sunk another 8%.

Traders were spooked as the 10 year yield sky rocketed to the highest level since Feb 2020 in what many traders called a flash spike. 

Higher rates on the yield signal bad news for corporates especially tech companies that bank of them for lower borrowing rates.