Market Turmoil: Stocks and Bonds Plunge Amidst Rising Volatility

Stocks and Treasury yields dropped as job openings unexpectedly increased, fueling speculation that the Federal Reserve will raise interest rates. The S&P 500 and Nasdaq 100 fell to multi-month lows, while Wall Street's fear gauge, the VIX, rose to its highest level since May. Travel stocks, including Airbnb and Carnival Corp, were among the biggest losers. Yields on 10-year and 30-year Treasuries reached their highest levels since 2007, causing anxiety in the credit market. Wall Street strategists warned of further stock market declines due to elevated interest rates.