Rising bond yields emerge as pressure point for US stock rally

News Snapshot:

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. REUTERS/Brendan McDermid//File Photo NEW YORK, Aug 9 (Reuters) - Rising U.S. bond yields are unnerving investors and worsening stocks turbulence as markets confront a pileup of unwelcome news, from last week's downgrade of the U.S. credit rating to revived worries over regional banks. Surging yields contributed to last year’s plunge in equities, when the Federal Reserve hiked interest rates to fight soaring inflation. This year, it’s largely been a different story, with bond yields rising on better-than-expected economic data....