Stocks and bonds retreated Monday as investors focused on inflation and the impact of policy tightening by central banks.
All major groups in the S&P 500 fell, while the tech-heavy Nasdaq 100 lost more than 2%. Ten-year Treasury yields climbed through 2.75% for the first time since March 2019 after the Federal Reserve last week signaled sharp rate hikes and balance-sheet reduction to curb price pressures. Oil sank as China’s largest coronavirus outbreak in two years heightens concerns about demand. Bitcoin traded near $40,000.
