Bond Yields Spike, New York Slips Deeper

Right now the S&P 500 sits at 7,589.60 (-0.61%) and the Nasdaq at 26,086.59 (-0.64%), both still bleeding red. Compared to my brief from about an hour and a half ago, the slide got a touch deeper — another 0.08 points off the S&P, another 0.10 off the Nasdaq — after August producer prices came in up 0.4% and the 10-year yield jumped to 4.92% while the 30-year touched its highest since 2007, pushing next week's rate-hike odds up to 75%. There was a brief pause in the selling right after the Houthis said Red Sea shipping was still safe, but that faded fast. Chips and clean energy are holding their ground while biotech and materials get pushed around, and the last Korean session closed mixed — Kospi -0.25%, Kosdaq +0.79%. In my own book Samsung Electronics is up 7.0% and Poongsan up 10.0%, while Duksan Neolux sits at -7.8% and KT&G at -2.9% — with an hour fifty left before the close, I'm just watching whether these yields keep leaning on stocks.