Stocks were notably lower for most of Wednesday's session as the 10-year Treasury yield spiked to levels not seen since last April, though the main benchmarks closed well off their intraday lows.
Specifically, the yield on the 10-year Treasury note hit 4.73% in overnight trading before settling the regular session slightly lower at 4.683%. The yield has climbed more than 100 basis points since its September low near 3.60%. (A basis point = 0.01%.)
