Stocks tumbled 9.4% in Hong Kong for their worst day since the 2008 global financial crisis. That also helped level off the pressure on the stock market from the bond market. Treasury yields eased a bit, a day after they shot to their highest levels since the summer. And Treasury yields had been storming higher over the last week following a suite of reports showing the U.S. economy remains healthier than expected. In Shanghai, where the market had been closed as Hong Kong ran higher over the last week, stocks rose 4.6% following their reopening.

Source: New York Times October 08, 2024 12:34 UTC