U.S. stocks fell and Treasury yields pushed higher after inflation accelerated for a sixth successive month and the Russian attack on Ukraine showed no sign of letting up. Oil declined and the dollar rose.
The S&P 500 ended down but well off session lows, with tech stocks leading the retreat. Treasuries fell across the board, sending the 10-year Treasury yields to levels not seen since Feb. 25 and the 30-year rate to the highest since May 2021 after data showed inflation running at the fastest pace in 40 years. Oil dropped below $107 a barrel in New York amid concern surging prices could hasten the onset of demand destruction.