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The yield on the US 10-year treasury note plunged to the lowest level since 2017 on Thursday as shared tumbled on escalating trade tensions and growth concerns.  

The benchmark yield fell to 2.27%, the lowest level since October 2017 and was last seen trading at 2.33%.  

The two-year yield, which is more sensitive to short-term interest rate expectations, also fell to 2.11%, the lowest since February 2018.

The decline in yields could be associated with an increased demand for safe havens amid risk aversion in the equities.  

The S&P 500 fell 1.2% on Thursday, dragged down by the losses in the energy and technology stocks.