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Art Cashin expects more stock pain as traders worry about Fed losing control of bond market

February 26, 2021


Longtime trader Art Cashin told CNBC on Friday that investors should brace themselves for a period of stock market volatility as Wall Street digests rising bond yields.

“You have to be very careful. There is a fine line. If the market begins to believe that the Fed has somehow lost control of where the bond market is going, all that idea of a ‘taper tantrum’ will show up,” the director of floor operations for UBS said on “Squawk on the Street.”

Cashin’s comments Friday came early during a volatile session, with the 10-year Treasury yield above and below 1.5% and the Nasdaq Composite swinging between gains and losses. The Dow Jones Industrial Average was down over 275 points, or 0.88%, but off its session lows.

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