Bond Market Woes Weigh on US Stocks Amid Higher Oil Prices

US stocks experienced fluctuations on Thursday due to pressure from the bond market and oil prices. The S&P 500 rose by 0.1% in afternoon trading, but was off a two-day decline that had pushed it close to its all-time high.

The Dow Jones Industrial Average fell by 145 points, or 0.3%, as of 1:10 p.m. Eastern time, while the Nasdaq composite remained mostly unchanged after falling throughout the morning.

The bond market's influence on stocks has been significant, with higher yields making borrowing more expensive for businesses and individuals. The yield on the 10-year Treasury climbed to 5.14% from 5.11% late Wednesday, its highest level in years.