Yesterday was another day of falls with Nasdaq down more than 2% and much more modest losses for the Dow Jones (-1.1%) and S&P500 (-1.3%) as US long-term government bond yields continue to climb.
Much of what is happening in the market right now is preparation by the big players for a new wave of US government bond auctions. Most likely, the Treasury will place longer-dated bonds to spread the debt burden. The expected increase in the supply of these securities reduces the price of all issued bonds.
The actions of the Fed could also disrupt the natural course of events with next meeting scheduled for the March 17th.
https://fxpro.news/daily-economic-events/market-sell-off-to-last-until-us-support-package-20210305/
