S&P 500 pulls back amid rising Treasury yields and inflation concerns

The S&P 500 closed the week at 7,674.37, shedding roughly 1.43% and ending a three-week streak of gains. Treasury yields are climbing fast, oil is getting more expensive, and the inflation picture that many investors hoped was fading is looking stubbornly persistent. The Nasdaq Composite fared worse, dropping 2.05% over the same period. Tech stocks, which tend to be more sensitive to rising rates because their valuations lean heavily on future earnings, took the brunt of the sell-off. Yields are flashing warning signs The 30-year Treasury yield surged to 5.327%, a level not seen since 2007. The 10-year note, the benchmark that influences everything from mortgage rates to corporate borrowing costs, hovered near 4.7%. US Treasury Secretary Scott Bessent attempted to calm the bond market by doubling weekly Treasury bond buybacks to $4B. The intervention offered a brief reprieve, but yields quickly reverted to their elevated levels. Oil is pouring fuel on the inflation fire Brent crude jumped 6.39% on the week while WTI rose 5.66%, both driven by geopolitical uncertainties centered on Iran and the potential for supply disruptions in the Middle East. Overbought signals in a down mar...