The U.S. stock market in New York ended trading with mixed movements across indices amid the burden of a sharp rise in long-term Treasury yields.

On the 24th (local time), the Dow Jones Industrial Average closed at 51,349.98, down 161.61 points (0.31%) from the previous trading day. The S&P 500 index fell 1.90 points (0.02%) to 7,704.13. Meanwhile, the tech-heavy Nasdaq Composite ended the session up 3.34 points (0.01%) at 26,939.37.

■ 10-Year Treasury Yield Rises to 5.2%... Valuation Concerns Resurface

The key variable in the market this day was U.S. Treasury yields. The U.S. 10-year Treasury yield extended its intraday climb, rising to around the 5.2% level.

As long-term yields remained at elevated levels, corporate financing costs and stock valuation burdens once again came to the forefront of the market. In particular, rising long-term Treasury yields can weigh on growth stocks, whose share prices relatively heavily reflect expectations of future earnings.

Indeed, the stock market repeatedly fluctuated between gains and losses during the session, failing to establish a clear direction.

■ Tech Buying Holds Up... Nasdaq Barely Closes in Positive Territory

However, tech stocks did not collapse across the board. After weathering intraday volatility, the Nasdaq rose 0.01%, barely managing to close in positive territory. The session saw a tug-of-war between the Treasury yield shock and buying in tech stocks.

Recently, movements in international oil prices and Treasury yields have emerged as major variables in the New York stock market. This is because if rising oil prices reignite inflation pressures, concerns could grow that high U.S. interest rates may persist longer than expected.

Accordingly, whether Treasury yields rise further—particularly how the 10-year yield moves in the 5% range—is cited as a key variable that will determine short-term investor sentiment going forward.

[This article was written based on publicly available market data and is not intended as investment advice. Indices and financial market conditions may change depending on market circumstances, and investment decisions and responsibilities rest with the investor. Some sentences and summaries were prepared using AI.]