The 10-year U.S. Treasury yield hit an intraday high of 4.006% Friday morning before dipping to around the 3.979% level. When interest rates rise, the value of future cash flows is reduced for growth stocks like Tesla, which in turn lower the value of the stock.
See Also: September Inflation Runs Hot At 8.2%, Sending Stocks Spiraling Lower: What You Need To Know
What Happened With Inflation Data Thursday?
According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.2% in September, down from 8.3% in August. The September CPI reading came in above average economist estimates of 8.1%.
On a month-over-month basis, CPI was up 0.4% versus average economist estimates for a 0.2% jump...Read More
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According to data from Benzinga Pro, Microsoft has a 52-week high of $349.67 and a 52-week low of $219.13.
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