US stocks fell in the last trading session as bond yields rose to their highest level in months on expectations that the Federal Reserve will keep rates higher for longer. Moreover, the market rally could be nearing an end, given the dollar is showing signs of a recovery from its recent four-month slump.
Jonathan Krinsky, managing director and chief market technician at stock brokerage BTIG, said, “You need to see a weaker dollar to continue this equity rally, and if there’s not a lot of downsides for the dollar, it’s tough to see a lot of upsides for equities.”
