Treasury Yields Hit 19-Year High, Pressuring Stocks

Stocks fell for a second straight day Tuesday as Treasury yields continued to climb, pressuring the market. The 10-year yield hit a 19-year high at 5.234%, while the 2-year yield reached a 28-month high and the 30-year yield touched levels not seen since 2002. President Trump met with tech leaders including Elon Musk, Jensen Huang, Mark Zuckerberg, and Sundar Pichai on artificial intelligence, while shares of several major companies remain well off their highs. Wednesday brings key data including ADP private payrolls and the August PCE price index, with earnings due from Cal-Maine Foods, Conagra, and Micron. Jim Cramer highlighted Goldman Sachs, noting its stock has gained 15% since he bought it in March.