A selloff in stocks intensified Thursday as bond yields rose in the wake of data showing inflation reached a new four-decade high, raising the stakes on whether the Federal Reserve will plot a more aggressive path on interest rates.
The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all fell, while the yield on the all-important 10-year U.S. Treasury note breached 2% for the first time since 2019.
