S&P 500 slips with Apple, lingering fears on global growth
Updated : March 26, 2019 06:27 AM IST
Benchmark 10-year Treasury yields fell to their lowest levels since December 2017, while the yield curve between three-month bills and 10-year notes inverted further as investors continued to assess last week's dovish pivot by the Federal Reserve.
The yield curve inversion, if it holds, is seen by some as an indicator that a recession is likely in one to two years. Ten-year notes were last yielding about 2.4 percent.
Apple shares fell 1.2 percent and were the biggest drag on indexes. The iPhone maker unveiled its long-awaited Apple TV+ original content streaming service and Apple TV Channels subscription service, joining a crowded market for streaming options.