Stocks Get Burned by Bond Meltdown

Last week's rout caused some short-term technical damage to the S&P 500 chart, and there could be some limited downside for the index

Stocks got smacked for the first time since late February last week, as long-term Treasury yields jumped over 5%, surging to their highest level since July, 2006. After finally posting an all-time high, the S&P 500 apparently didn't like the rarefied air above 1527.46, and had its worst three-day drop since late February.

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