U.S. stocks fall for a third day as Treasury buyback misses expectations; Meta jumps 6.55% on Muse launch
U.S. stocks closed lower for a third straight session on Wednesday, with pressure coming from two fronts: a smaller-than-expected long-dated Treasury buyback and a fresh jump in oil prices. The Dow fell 0.77% to 52,380.66, the S&P 500 slipped 0.48% to 7,636.36, and the Nasdaq dropped 0.64% to 26,253.340, while the VIX rose about 4.4% to 16.41. The U.S. Treasury said it would repurchase up to $6 billion of 10-year to 20-year bonds, below the $7 billion to $8 billion range that some Wall Street investors had expected in a Bloomberg survey. That helped send the 10-year yield to an intraday high of 4.849%, its highest level since November 2023, while the 30-year yield climbed to 5.291% and the 2-year yield hit a 52-week high.\n\nOil added to the pressure after Brent crude settled at $101.21 a barrel and WTI at $96.05, both reaching their highest levels since May. Energy was the only S&P 500 sector to finish higher. Big tech names mostly fell, but Meta rose 6.55% after unveiling its AI assistant Muse. Storage and optical communications shares also advanced, with SK Hynix rising 7.05% to a record high. Apple, which slipped 0.28%, introduced its first foldable flagship phone, the iPhone Duo, priced from $1,999 globally and RMB 15,999 in China. Bitcoin traded around $79,200, up about 1% over 24 hours, while ether was near $2,500.








