Are Equities Toast In The Higher For Longer World?

In my post yesterday, I highlighted the 4200 support level for the S&P 500 and the risks if that was breached. Well, today as the tech sector melted down it dragged the S&P 500 index under the 4,200 support level. Rising Treasury yields and political gridlock in D.C. dominate financial headlines, but it was GOOGL’s poor results that became one straw too many, and the index shed another 1.4%. And significantly, soaring U.S. Treasury yields are further boosting the appeal of bonds over stocks, deepening an already painful equity selloff while threatening to weigh on equity performance over the long […]