10-year Treasury yield tumbles below 5% to lowest level in nearly a month

Treasury yields fell sharply on Thursday, with investors turning to safe havens amid a steep sell-off in stocks driven by concerns around the artificial intelligence trade and surging oil prices. The benchmark 10-year U.S. Treasury yield — used to price mortgages, auto loans and credit card debt — slid more than 17 basis points to 4.972%, the first time below 5% since Sept. 23. The yield saw its biggest one-day decline since March 10, 2023. The yield on the 2-year Treasury note , which closely tracks short-term Federal Reserve rate policy, tumbled more than 16 basis points to 4.659%. The yield on longer-dated 30-year U.S. Treasury — most sensitive to geopolitical developments — was more than 14 basis points lower at 5.296%. One basis point equals 0.