Around 1:00 PM ET, the S&P 500 suddenly dropped nearly 80 points in just 30 minutes—without any obvious breaking news. So what really caused the selloff? It turns out a weak 20-year U.S. Treasury bond auction triggered a spike in yields, which spooked investors and led to the sharp decline in the market.
Yields are extending upside after a very weak 20Y Bond auction. As well Dow now down over -2%.
