US Stock Market Falls Amid Soaring Treasury Yields

The US stock market continued its downward trend on Thursday, as Treasury yields soared to levels not seen since 2004. The 30-year bond yield approached 5.50 percent, causing concern among investors about inflation and interest rates.

Jason Stephens, founder of Evertern Wealth, warned that the economy's resilience is keeping inflation concerns alive and pushing interest rates higher. He emphasized that the bond market is the most important one to watch right now.

The Dow Jones Industrial Average fell 0.31 percent, while the S&P 500 was essentially unchanged at 7,704.36. The Nasdaq Composite edged higher by 0.01 percent.

The US dollar strengthened against all major currencies, with the euro and yen weakening further. The Australian dollar posted the largest decline among the majors, falling 0.37 percent.