Stock Markets
US stocks slide as tech leads selloff amid jump in yields
Investing.com– U.S. stocks fell sharply on Friday, with tech stocks leading the selloff, pressured by jump in Treasury yields.
At 12:59 p.m. ET (17:59 GMT fell 1.5% the fell 2%. The fell 1.1%, or 491 points.
Wall St slumps as tech pressured by higher treasury yields
Apple Inc (NASDAQ:) fell nearly 2%, a day after hitting a record high higher following an upgrade from tech-bull Wedbush on Thursday.
Tesla Inc (NASDAQ:) stock fell 4.6%, while market darling NVIDIA Corporation (NASDAQ:) edged 2.9% lower.
Alphabet (NASDAQ:) fell more than 2% amid a major rout in tech.
The move lower in tech following a jump in the benchmark , which reached 4.64% earlier—its highest level since early May amid expectations for more hawkish Federal Reserve in 2025 amid inflation concerns.
“The rise in long-term yields mostly reflects a stronger growth outlook but could also signal concerns about inflation and the federal budget deficit,” DA Davidson said in a recent note.
Rising yields translate into increased borrowing costs, which can constrain spending on innovation and expansion, further squeezing profit margins.
Microstrategy leads crypto stocks lower as gives up gains
MicroStrategy Incorporated (NASDAQ:) fell more than 3% after giving up early-day gains to lead crypto-related stocks including Coinbase Global Inc (NASDAQ:) lower. .
The slump followed struggles to its gains after topping $97,000.
Stock Markets
US anti-missile system in Israel used to intercept projectile from Yemen
(Reuters) – An advanced U.S. military anti-missile system was used in Israel to try to intercept a projectile for the first time since President Joe Biden placed the system in Israel in October, a source familiar with the matter told Reuters on Friday.
The THAAD, or Terminal High Altitude Area Defense system, was used to try to intercept a projectile from Yemen sometime during the last 24 hours, and an analysis would determine its success, said the source who spoke on condition of anonymity.
The Pentagon did not immediately respond to a request for comment.
Israel struck multiple targets linked to the Iran-aligned Houthi movement in Yemen on Thursday, including Sanaa International Airport, and Houthi media said at least six people were killed.
Houthis have repeatedly fired drones and missiles towards Israel in what they describe as acts of solidarity with Palestinians in the Gaza Strip.
In October, Biden placed the THAAD system, built by Lockheed Martin (NYSE:), in Israel along with about 100 U.S. soldiers to help defend the country.
THAAD is a critical part of the U.S. military’s layered air defense systems and added to Israel’s already formidable anti-missile defenses.
Stock Markets
Senate intelligence panel criticizes CIA response to Havana syndrome
(Reuters) – A bipartisan Senate Intelligence Committee report published on Friday criticized the CIA’s response to so-called Havana syndrome health problems among its workforce, saying many individuals “faced obstacles to timely and sufficient care.”
A declassified summary of the panel’s classified report also said the spy agency’s response “negatively affected” those who reported symptoms, leading to a “trust deficit” among some personnel.
While the CIA provided benefits and compensation to many of those reporting symptoms, the report said, the ease of accessing those programs has been inconsistent, affecting how the agency has been organized to deal with the matter.
Stock Markets
Saba capital management buys $826,865 in Pioneer Municipal High Income Fund stock
Following these transactions, Saba Capital now holds 4,057,625 shares of Pioneer Municipal High Income Fund, reflecting its continued confidence in the fund’s performance. The fund currently offers a 4.53% dividend yield and maintains a conservative beta of 0.67, indicating lower volatility compared to the broader market. This move underscores Saba Capital’s strategy to enhance its position in the municipal bond market through this investment. InvestingPro analysis reveals several additional key metrics and insights about MHI’s financial health and market position.
Following these transactions, Saba Capital now holds 4,057,625 shares of Pioneer Municipal High Income Fund, reflecting its continued confidence in the fund’s performance. The fund currently offers a 4.53% dividend yield and maintains a conservative beta of 0.67, indicating lower volatility compared to the broader market. This move underscores Saba Capital’s strategy to enhance its position in the municipal bond market through this investment. InvestingPro analysis reveals several additional key metrics and insights about MHI’s financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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