$SPY and other indices turn lower as yields rise further on Thursday. Nasdaq $QQQ is the worst performer as yield-sensitive stocks fall. $TSLA stock moves against crowd, gains 3% by ivanbrian9 stocks trading
The rise in yields is continuing on Friday after what we would see as relatively unsurprising comments from Fed chair Powell. 50 basis points looks like a certainty for the May meeting, and in fact the fed funds futures contract has this at a near 100% certainty. However, further out inthree consecutive 50 basis point rises now look odds on also. This is what spooked high debt companies and high growth names, many of whom litter the Nasdaq.
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