The 10-year Treasury yield climbed to 5.225% on Thursday, its highest level since June 2007, putting pressure on dividend-paying stocks. Dividend ETFs SDVY and SDY are down 7% to 9% from their recent highs. Top S&P 500 dividend payers are also declining, with VICI Properties down 13%, General Mills down 15.5%, and Edison International down nearly 30% over the past month. Conversely, Meta Platforms and Moderna hit new highs, along with cybersecurity stocks AMD, CrowdStrike, and Fortinet. August durable goods numbers will be released Friday at 8:30 AM ET.
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