Wall Street Dips as Bond Yields Rise
Wall Street fell to a two-week low as a global bond selloff pushed Treasury yields to multi-decade highs. Rising oil prices and inflation concerns overshadowed a strong rally in software stocks.
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The S&P 500 fell 13 points, or 0.17%, to 7,638.49 on Thursday afternoon in the United States, touching a two-week low. The drop came as surging Treasury yields outweighed a robust rally in software equities.
