Bonds & Stocks
Wall Street traders sent stocks and bonds lower in the countdown to the Federal Reserve decision as elevated oil prices raised concerns about inflation. The S&P 500 fell 0.2%. The yield on 10-year Treasuries advanced two basis points to 5.01%.
Economy
The 10-year US Treasury yield rose to the highest in almost two decades, the latest milestone in a bruising global bond selloff driven by surging energy prices, mounting debt and persistent inflation.
World
(Bloomberg) -- China criticized calls from leading US technology executives to put the brakes on artificial intelligence development and impose tighter curbs on Chinese model makers. “Fearmongering, confrontation and vicious competition will only disrupt the process of global AI governance and serve the interests of no one,” Foreign Ministry spokesman Guo Jiakun said.