Wall Street Falls 1.3% on Bond Sell‑Off

S&P 500 fell 1.3% to 7,407.52, Nasdaq slipped 1.5% to 26,225.15, and Dow dropped 1.1% to 49,526.11 on Friday.
US 10‑yr yield rose to 4.601% (up 14 bps) and 30‑yr topped 5.123%; UK 30‑yr gilt hit 1998 high, Japan 30‑yr hit record.
Oil prices surged 3.6% to $109.54 per barrel as the Strait of Hormuz remained closed, intensifying inflation worries.
Trump’s China visit produced limited trade breakthroughs; Nvidia’s chip export approval lifted its stock, but overall market sentiment stayed muted.