Stock Market Today: Inflation Pounds Tech, Omicron Tests Growth

U.S. stocks extended declines Monday, falling for a fifth consecutive session, with benchmark 10-year Treasury note yields piercing a fresh 2-year high of 1.8%, as investors continue to re-set prices for stocks, bonds and currencies following last week’s hawkish Fed minutes and robust jobs data.

Bond yields are likely to be in focus again this week following the biggest five-day increase for benchmark 10-year note yields since September of 2019. And with inflation set to accelerate at the fastest annual pace in more than three decades later this week, fueled by pandemic stimulus, supply chain disruptions and rising commodity prices.

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