Oftentimes bonds act as a built-in ballast for stocks but there is no help today. US 10-year yields remain on the highs, up 10 bps today to 4.29% despite accelerating selling in equities. Oftentimes there will be a bid for safety as US stocks fall and that helps to slow the selling.
Instead, the US equity selling is accelerating into the close with Nasdaq losses doubling to 0.8% and the Russell 2000 down 2.5%.
