
US stocks are trading in record highs as investors look for a safe haven amid fears of a global economic downturn.
But the markets are also facing fresh concerns over the Federal Reserve’s decision to ease interest rates this week.
The benchmark 10-year Treasury note yields more than 3.5% and the 10- and 20-year U.S. bonds have both traded higher over the past month, after hitting record highs in January.US stocks rose as much as 5% to trade at $10,734.10 at 4:52 p.m.
ET.
The Dow Jones industrial average rose 6.3% to 26,937.93.
The S&P 500 gained 0.4% to 2,639.10, while the Nasdaq Composite rose 3.3%.
The Dow Jones Industrial Average rose 7.6% to 28,967.23.
The Nasdaq composite fell 5.3%, while the Russell 2000 index fell 1.9%.
On the financial front, the Federal Deposit Insurance Corporation (FDIC) raised its overnight rate hike on Monday to 0.75%, from 0.6%.
The Federal Reserve is expected to cut its benchmark overnight lending rate next week to a record low of 0.3 percentage points.