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10:42Now PlayingWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
A selloff in global bonds halted a rally in stocks, with concern intensifying that central banks will be forced to tighten policy to keep inflation in check amid persistently elevated oil prices
The biggest equity drop since March saw the S&P 500 falling 1.2%. A gauge of chipmakers — which had led a surge from war-driven lows — sank 4%. US 10-year yields topped 4.5% while those on Japan’s 30-year debt hit 4% for the first time. In the UK, a political crisis lifted long-bond rates to a 28-year high. The dollar extended this week’s gain. US crude settled above $105.
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