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Financial Markets

Stocks whipsawed by rising bond yields

Stocks whipsawed by rising bond yields

Most people don't attend dress rehearsals so they can figure out how a play might be enacted later. But in these unusual times, the sharp volatility of the stock market lately may be helpful to observe if you want to make sense of the wild swings that may play out in investments in the months ahead. For a short time Tuesday morning, the Dow Jones Industrial Average dove more than 150 points, and then recovered from most of the loss. If stock investors were trying to make sense of the plunge by examining stocks, they probably would have been flummoxed. Instead of the drama being driven by stocks, the stock market was forced down by bonds, or -- more precisely -- the fear investors...

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