S&P 500 Falls Third Consecutive Day as 30-Year Treasury Yield Hits 5.2%, Highest Since 2007

SPX500-0.77%
U.S. equity markets declined on May 20 as long-term Treasury yields surged amid persistent inflation concerns. The S&P 500 and Nasdaq both fell for a third straight day, with Google shares dropping over 2%. The 30-year U.S. Treasury yield approached 5.2% intraday, reaching its highest level since 2007. Oil prices snapped a three-day winning streak, with crude futures falling nearly 3%.
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