Stocks drop as Treasury yields widen their inversion

Traders work on the floor of the New York Stock Exchange (NYSE) on June 27, 2022 in New York City.

Spencer Platt | Getty Images

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The January rally in U.S. stocks fizzled as Treasury yields widened their inversion. Recent data failed to paint a coherent picture of the economy.

What you need to know today

  • Speaking of activists, Dan Loeb’s hedge fund Third Point is the latest activist investor to take a stake in Salesforce, CNBC confirmed. It joins ValueAct Capital, Elliott Management and Starboard Value.  Salesforce has been hit recently by slowing revenue growth and criticism that it paid too much for targets such as Slack.

The bottom line

Source: https://www.cnbc.com/2023/02/10/stock-markets-stocks-drop-as-treasury-yields-widen-their-inversion.html