Heurist Finance

10-year Treasury yield hits 5.34%, highest since 2002, weighing on biotech stocks

Bloomberg ·
10-year Treasury yield hits 5.34%, highest since 2002, weighing on biotech stocks
  • The Nasdaq Biotech Index has slumped 3.8% since its Aug. 19 peak.
  • The US 10-year yield rose nearly half a percentage point over the same period and briefly hit 5.34%, its highest level since 2002.
  • The index tracks nearly 250 biotech companies and remains up roughly 25% this year.

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