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Treasury yields inch higher as stock sell-off resumes

U.S. government debt yields rose slightly on Monday as U.S. stocks resumed their hefty October sell-off.

At 4:30 p.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, traded higher at 3.089 percent, while the yield on the 30-year Treasury bond was higher at 3.334 percent.

U.S. Markets Overview: Treasurys chart

The move higher on yield comes as the major U.S. stocks closed lower, giving up sharp gains from earlier in the day in a wild session that saw the Dow Jones Industrial Average travel more than 900 points.

Market sentiment has been hit by a range of negative factors in recent weeks, with investors concerned about an intensifying U.S.-China trade war, cooling global growth and Federal Reserve rate increases.

Yields also rose despite the release of mixed economic data. Consumer spending rose 0.4 percent in September, in line with expectations, according to the Commerce Department. However, that marks the smallest increase in more than a year as wages grew moderately.