Rising Treasury yields pressured equities, with the benchmark index giving up earlier gains as borrowing-cost expectations tightened across markets.
The S&P 500 gave up all of its earlier gains and fell into negative territory on the day as the US 10-year Treasury note yield climbed to its highest level since January 2025. The move points to renewed pressure from the bond market, where higher long-term yields often weigh on stocks by lifting discount rates and tightening financial conditions.