10-Year Treasury Yield Plunges Below 4% as Trade War & Fed Pivot Spur Flight to Safety
The U.S. 10-year Treasury yield fell to about 3.97%, dropping below 4% for the first time in 2025 as investors rushed to bonds amid U.S.–China trade tensions and banking scandals. Gold surged to a record above $4,378 per ounce. Fed officials signaled two rate cuts this year, with markets fully pricing in an October move. Stocks reversed gains, with the Dow down nearly 400 points and global markets sliding.