Dow drops more than 550 points as investors notice US government bonds are risky scam

Source: CNN

“The US stock market took it on the chin again Tuesday, plummeting on worries about sustained high inflation that pushed bond yields higher. The debt ceiling debate raging in Washington didn’t help market sentiment either. The Dow dropped some 600 points at its low-point, and finished the day down 569 points, or 1.6%. The S&P 500 closed down 2%. Tech stocks led the losses across the board, and the tech-focused Nasdaq Composite finished down 2.8%. … The 10-year Treasury bond yield, which is sensitive to inflation expectations, rose to 1.54% around the time of the closing bell. Bond yields and prices move in opposition to each other. Remarks about inflation from Federal Reserve Chairman Jerome Powell spooked investors this morning and pushed bond yields higher.” (09/28/21)