Stocks Stabilize Amid Oil Price Volatility and Rising Bond Yields

US stocks closed nearly flat on Thursday after a day marked by sudden reversals in oil prices and bond market yields.

The S&P 500 finished with a loss of less than 0.1%, while the Dow Jones Industrial Average dropped 161 points, or 0.3%.

The rise in Treasury yields to 5.20% from 5.11% late Wednesday has slowed the economy by making borrowing more expensive and undercutting stock prices.

Oil prices also saw a sudden drop midday Thursday before rebounding to settle at $100.22, up 2.1% from the prior day.