The Dow Jones Industrial Average finished flat, while the S&P 500 and Nasdaq index ticked lower.
Those surging bond yields are responsible for pushing up the weekly average rate on the popular 30-year mortgage to a new 23-year high, Freddie Mac announced on Thursday. "The markets sell-off which saw government bond prices fall and yields rise has taken centre stage this week, and investors continue to watch the 10-year Treasury yield like a hawk," said AJ Bell investment director Russ Mould.