US Stocks Swing Amid Rising Bond Yields and Oil Prices

The US stock market experienced a volatile day on Thursday as it struggled to find direction amidst rising bond yields and oil prices.

Although stocks initially dropped due to climbing Treasury yields, which reached 5.20%, they suddenly reversed course in the midday hours before eventually turning higher again.

The S&P 500 finished nearly flat, edging down by less than 0.1%, while the Dow Jones Industrial Average dropped 161 points, or 0.3%, and the Nasdaq composite added less than 0.1%.

The increasing bond yields have been a concern for investors, as they can slow down economic growth by making borrowing more expensive and undercutting stock prices.