The stock market had its worst day in a month after a bond market slide accelerated in the wake of a weak 20-year Treasury note auction. The Nasdaq Composite dropped 1.4%. The yield on the 10-year Treasury note surged to 4.595%, its largest one-day increase in yield since April 9, right before the Trump administration walked back global reciprocal tariffs temporarily in the face of rising yields and a slide in stocks and the dollar.
