With Wall Street focused on rising bond yields, the stock market was set to pull back again on Wednesday.
The Dow Jones Industrial Average was down 367 points, or 0.9%. The S&P 500 was down 0.6%. The Nasdaq Composite fell 0.7%.
The yield on the 10-year Treasury note rose to 4.55%, while the 30-year yield was up to 5.03%. Global bonds were struggling in the wake of higher-than-expected inflation numbers in the U.K. and continued struggles in Japan’s bond market.
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