US Stocks End Thursday Flat as Bond Yields Soar to 15-Year High

The US stock market finished Thursday's trading session roughly where it began, with the S&P 500 index finishing nearly flat and edging down by less than 0.1%. The Dow Jones Industrial Average dropped 161 points, or 0.3%, while the Nasdaq composite added less than 0.1%.

The recent rally in stocks has slowed since the S&P 500 reached a record high earlier this week, due to increasing pressure from the bond market. The yield on the 10-year Treasury jumped to 5.20% from 5.11% late Wednesday and is now at its highest level since 2007.

The rise in yields has slowed down the overall economy by making borrowing more expensive, while also undercutting stock prices. Yields have been following the track of oil prices, which have been volatile due to uncertainty about when the war with Iran will allow crude oil to flow freely again from the Middle East.