Fastly and Oracle Stocks Trade Up, What You Need To Know What Happened? A number of stocks jumped in the afternoon session after Treasury yields retreated below 5% and oil prices declined, sparking a recovery across growth-oriented equities following the Federal Reserve's interest rate increase. The benchmark 10-year Treasury yield dropped to 4.949%, alleviating pressure on borrowing costs and valuation multiples per CNBC. Technology and semiconductor stocks had faced sharp selling in the prior session after the Federal Reserve unanimously raised its benchmark interest rate by 25 basis points to a target range of 3.75% to 4.00%.
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