Stocks Fall as Bonds Extend Declines on Rising Oil: Markets Wrap

Stocks fell and bond yields tested fresh multiyear highs as the stalemate between the US and Iran kept driving oil prices higher, fueling wagers that central banks will hike interest rates to curb inflation.

S&P 500 futures slid 0.4%, pointing to back-to-back losses in the US benchmark for the first time in May. Brent rose 0.5% toward $110 a barrel. Treasuries fell across the curve, with the 10-year yield up one basis points at 4.61%. Japan’s 30-year rate traded at the highest level this century, while UK gilts steadied. The dollar eased 0.1%.