Futures inch lower, Treasury yields climb, McCarthy ousted - what's moving markets
Investing.com -- U.S. stock futures edged broadly lower on Wednesday following a day of losses on Wall Street that dragged the Dow into negative territory for the year. U.S. 10-year Treasury yields, meanwhile, continue to climb, adding to a recent surge that has challenged equities and hit a range of global currencies. Elsewhere, Kevin McCarthy is ousted as House Speaker, leaving the lower chamber of the U.S. Congress leaderless with a November government funding deadline looming.U.S.
Currencies were also rocked as the surge in yields pushed up the U.S. dollar, with the euro trading near 10-month lows and sterling hovering around a seven-month trough against the greenback. The yen in Japan was under pressure as well. Following an internal spat with his Republican colleagues, McCarthy lost a roll call vote by 216-210, with eight GOP members joining 208 Democrats to strip him of the speakership.
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