STOCKS TUMBLE: Here's What You Need To Know

Volatility seems to be creeping back into the stock markets. Perhaps it has something to do with the volatility in the bond markets.

First the scoreboard:

Dow: 15,316, -92.2 pts, -0.6%
S&P 500: 1,651, -8.4 pts, -0.5%
NASDAQ: 3,474, -14.7 pts, -0.4%

And now the top stories:

  • There was no major market moving economic data today.  But the bond markets are moving.  The 10-Year Treasury yield surged to as a high as 2.23% this morning, before sliding back to 2.12% this afternoon.  Trading volumes are at record highs.
  • The sell-off in Treasuries has been going on for most of this month.  It’s worth mentioning that tech behemoth Apple had a massive bond sale while interest rates were near the lows. This could go down as one of the most perfectly timed corporate refinancings in history.
  • Smithfield Farms, the U.S. pork producer and maker of hams, is getting acquired by Shuanghui International. Investors will be getting $34 per share, which is around 30% higher than yesterday’s closing price. “This is a great transaction for all Smithfield stakeholders, as well as for American farmers and U.S. agriculture,” said CEO Larry Pope.
  • Don’t Miss: 7 Fascinating Psychology Concepts That You’ll Find On Wall Street’s Hardest Exam >

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