Stocks Drop While Bond Yields Rise Due to Fed-Hike Fear – US Market Wrap

The recent round of bond weakness sent rates to multi-year highs, lowering enthusiasm for equities on speculation that a wild market rally had gone too far amid war-fueled inflation risks. With oil at $100 and no signs of an end to the Iran dispute, Treasury 30-year yields have reached levels not seen since 2007, raising concerns that rising energy costs may increase the likelihood that the next Federal Reserve decision will be a rise rather than a cut. Alphabet’s Google is redesigning its iconic search box and introducing new artificial intelligence coding tools, the latest moves in the company’s multibillion-dollar push to increase its impact in the age of AI. Equities continued to fall from a record high, with the S&P 500 marking its longest losing run since March 31st. While the conditions for a long and severe fall may not exist, the high-profile group of chipmakers has experienced extreme volatility following a string of records spurred by the resurgence of the artificial-intelligence mania. A major industry gauge ended barely changed after falling 3.6% earlier Tuesday.