Michael M. Santiago/Getty Images
- US stocks fell about 1% on Thursday as bond yields jumped to their highest level since November.
- The 2-Year US Treasury yield hit 4.50% as investors expect more interest rate hikes from the Federal Reserve.
- A slew of positive earnings results from consumer-oriented firms had provided an initial boost to stocks in morning trades.
US stocks fell about 1% on Thursday as bond yields rose to their highest level in months on expectations that the Federal Reserve will keep rates higher for longer.
Stocks were initially higher in early morning trades after a slew of earnings from consumer-oriented companies bested investor expectations.