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U.S. Treasury yields fell Friday as investors reacted to a stronger-than-expected January wholesale inflation report, and a tumbling stock market amid rising fears of artificial intelligence hurting the economy.
The benchmark 10-year Treasury yield fell more than 5 basis points to 3.962%, while the 30-year Treasury bond yield dropped more than 3 basis points to 4.631%. The 2-year Treasury note yield was lower by more than 5 basis points at 3.389%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
The latest data point on the economy showed core wholesale prices, stripping out food and energy, rose 0.8% in January, according to the Bureau of Labor Statistics, far above the 0.3% increase economists polled by Dow Jones were anticipating.
