Higher bond yields pull stocks further from record | Northwest Arkansas Democrat-Gazette

U.S. stocks retreated Monday as Treasury yields climbed to multi-decade highs, increasing pressure on equities that had been flirting with record levels. The S&P 500 dropped 0.8% to 7,683.69, the Dow Jones Industrial Average fell 0.7% (down 347 points) to 51,481.51, and the Nasdaq Composite slid 0.9% to 26,820.38. The 10-year Treasury yield briefly topped 5.27% before pulling back to 5.23%, up from 5.17% late Friday. The 30-year yield rose from 5.49% to 5.55%. Higher yields reflect inflation worries, heavy U.S. debt and resilient growth. Oil also moved after Trump rejected Iran’s proposal tied to opening the Strait of Hormuz.