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Stocks pulled back further from recent all-time highs on Thursday as traders watched oil prices spike and key bond yields resume their march to their highest levels in nearly a quarter century
The S&P 500 and Dow Jones ended Wednesday lower, with the Dow recording its worst month since March this year as investors shrugged off cooler PCE data amid elevated Treasury yields.
A fresh jump in oil prices and another surge in bond yields rattled stocks, extending losses after indexes hit records earlier in the week.