Investing.com - The yield on the benchmark 10-year Treasury Note fell below 1% for the first time ever Tuesday, following the surprise FOMC interest rate cut and sharp afternoon selling in stocks.
After dipping below 1%, the 10-year was at 1.009% as money moved out of stocks and into bonds, pushing yields lower.
The 2-Year Treasury was at lows of the day at 0.677%.
The Federal Reserve made an emergency move to cut rates by 50 basis points shortly after the start of trading. But stocks sold off following a press conference from Fed Chairman Jerome Powell.
Selling accelerated in afternoon trading, weighing on bond yields already down following the rate cut.