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CNBC's "Fast Money"

Markets Sink as Yields Spike, and OpenAI Scores a Big Win Against Apple 05/21/25

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 21 May 2025

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks closed near session lows as long-term yields hit more than one-year highs. A disappointing 20-year bond auction a catalyst for the action. Plus OpenAI announcing it’s buying the startup helmed by long-time Apple exec Jony Ive. What it means for both companies. Fast Money Disclaimer

Transcript

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0:00.0

Live in the NASAC markets, ain't in the heart of New York City's Times Square.

0:05.9

This is fast money.

0:07.1

Here's what's on tap tonight.

0:08.3

Rate shock, a sharp spike in yields putting fresh downward pressure on stocks and lifting

0:12.6

Bitcoin to record highs.

0:14.0

Will the climb in the 10 and 30-year Treasury put a lid on the stock market rebound?

0:18.2

We'll debate that.

0:19.2

Plus Apple picking.

0:20.5

Open AI announcing a $6.4 billion

0:23.0

deal to buy former Apple exec, Johnny Ives, AI device startup, the details and the negative

0:28.4

impact on Apple coming up. And later, Uber stalled the day after Elon Musk says he doesn't

0:33.0

need them to build his robotaxy empire. Target tumbles after slashing guidance, the retail ripple effect, and Go New York Go.

0:40.2

We'll go inside the next the Knicks' valuation surge as a team makes the deepest playoff run in 25 years.

0:47.0

That's right.

0:47.9

Go next.

0:48.8

I'm Melissa Lee coming to a live from Studio B at the Nazak on the desk tonight.

0:52.1

Tim Seymour, Karen Feinerman, Steve Grasso, and former TD Ameritrade Chairman Joe Moglia. Joe, welcome to the show.

0:57.8

Thank you, Karen. Thank you, Melissa. We start off at C of Red on Wall Street, stocks

1:04.9

taking a sharp turn lower midday with the S&B tumbling over a percent and a half, and the Dow

1:09.2

losing 816 points, A small cap Russell 2000,

1:12.5

leading the losses down almost 3%. The catalyst, a spike in bond yields, triggered by disappointing

1:17.7

20-year treasury auction this afternoon. Weak demand sending rates on the benchmark tenure briefly

...

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