New York
CNN
—
Stocks, bonds and the dollar fell on Wednesday as concerns mount about the premier status of American assets.
The Dow was down 717 points, or 1.6%. The broader S&P 500 slid 1.13% and the tech-heavy Nasdaq Composite fell 0.85%.
Stocks moved sharply lower and bonds sold off after a midday auction for 20-year Treasury notes. Bond prices and yields trade in opposite directions.
While the auction for 20-year Treasury notes usually garners less attention than auctions for 10-year or 30-year notes, all eyes have been on investors’ perception of Treasuries since Moody’s on Friday downgraded US government debt.
The yield on the 10-year Treasury note on Wednesday rose above 4.59% and the yield on the 30-year…
