00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. stocks fell and Treasury yields surged Wednesday after the Treasury Department announced
00:08plans to repurchase $6 billion of 10- to 20-year government bonds, according to NBC News.
00:14The 10-year Treasury yield climbed as high as 4.85%, its highest level since November 2023,
00:22while 20- and 30-year yields reached 5.3%.
00:26The Nasdaq Composite closed down 0.6%, while the S&P 500 fell 0.5%.
00:34Treasury Secretary Scott Besson said Tuesday that his job was to push markets back toward
00:40equilibrium after what he described as a fever in bond markets.
00:44Investors have raised concerns that government efforts to suppress yields could prompt markets
00:49to test Treasury's resolve.
00:51The sell-off comes as U.S. national debt recently surpassed $40 trillion.
00:57For all things money, visit Benzinga.com.
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