ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Charisse Jones | Economic Opportunity Reporter
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It's Hump Day! It's also fall, but on the east and west coast, and some points in between, folks are getting a last blast of summer heat. It's Charisse Jones with the headlines you can peruse as you curl up by a fan. |
Stocks tumbled Tuesday as the value of treasuries continued to grow. The Dow Jones Industrial Average plunged 430 points, erasing what remained of the gains it had racked up this year. The S&P 500 dipped 1.4%, to its lowest point since June. And the tech-focused Nasdaq experienced the steepest loss of all, slipping 1.9%. |
Bonds are the culprit. The yield on 10-year treasuries inched up to 4.79% from 4.69% on Monday. And that was a significant jump over the 0.50% value they carried when the economy was first rocked by the COVID-19 pandemic. Tuesday's spike, the highest in 16 years, occurred in the wake of a jobs report that showed the U.S. had more open positions than previously forecast. |
Investors go where they can get the most bang for their bucks, and their focus on bonds has helped lead to stocks losing over 40% of their value since late July. With the Federal Reserve signaling it's unlikely to cut its key interest rate any time soon, the bonds surge is also likely to continue. |
Using Uber to make returns |
First people, now packages. |
Tap the Uber or UberEats apps and for $5, you can have up to five prepaid and sealed packages taken to the post office, UPS or FedEx. Uber One members get a $2 discount. |
"We imagine that this is going to be a huge time saver and convenience play for many, many U.S. consumers," Wendy Lee, Uber's director of delivery product management, told USA TODAY. | Uber's "Return a Package" feature launches in select markets Wednesday. Uber |
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