US Stocks Slump as Treasury Yields Surge, FOMC Meeting Looms

The US stock market experienced a downturn, with the Dow Jones Industrial Average falling 0.23% and the S&P 500 Index dropping 0.10%. The Nasdaq Composite Index also opened down 0.18%. This decline comes as investors are cautious ahead of the FOMC meeting tomorrow, where the Federal Reserve is expected to raise interest rates.

The US 10-year Treasury yield briefly touched the 5% range for the first time since 2007, reaching its highest level in over a decade. This surge has raised concerns about prolonged inflation driven by high oil prices and a hawkish shift among central banks worldwide.

Meanwhile, Micron Technology announced that it expects to begin mass-producing 512GB RDIMMs in the second half of 2027. The company's move is expected to increase storage capacity for next-generation servers.