Bond yields crank higher and pull US stocks further from their record

NEW YORK (AP) — Yields in the U.S. bond market cranked higher Monday and again touched their highest levels in roughly two decades, which knocked U.S. stocks further from their record high.

The S&P 500 fell 0.8% and gave back much of its gain from last week, which had brought it to the brink of its all-time high. The Dow Jones Industrial Average dropped 347 points, or 0.7%, and the Nasdaq composite sank 0.9%.

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