Equities: Rising yields weigh on stocks despite tech support - Deutsche Bank

Deutsche Bank strategists have reported renewed pressure on global equities due to surging bond yields and higher oil prices, which have negatively impacted risk assets. The S&P 500 experienced a third consecutive day of decline, while European indices saw broader declines. Sector performance was uneven, with utilities and materials lagging, while mega-cap technology names provided some offset.

In the United States, equities managed to recover most of their decline following a Reuters story, but the S&P 500 still retreated for a third consecutive session. The breadth of the moves was clearly negative, with almost two-thirds of the S&P 500 lower on the day, led by declines for utilities and materials.

Brief written by urgent.news from FXStreet's own syndicated text. Machine-written — may contain errors; check the original before relying on it.