Treasury Yields Fall as Wall Street Selloff Fuels Safe-Haven Demand; 10-Year Hits One-Month Low

Treasuries rallied Friday, pushing the benchmark 10-year yield down 6.0 basis points to 4.929 percent, its lowest level in well over a month, as investors sought safe havens amid a sharp Wall Street selloff led by technology stocks. The move extended Thursday's 5.6 basis point decline. The tech-heavy Nasdaq plunged 3.5 percent to a three-month low on renewed concerns about the artificial intelligence trade, with Intel (INTC) tumbling 31 percent to a six-month intraday low after the chipmaker issued disappointing fourth-quarter guidance despite better-than-expected third-quarter earnings. Bond traders appeared to shrug off inflation worries from a renewed surge in crude oil prices. U.S. crude futures jumped more than 2 percent on concerns about supply disruptions from the ongoing conflict in the Middle East.