Wall Street selloff recede as rise in bond yields pause, tech stocks gain

US stocks pared losses to trade little changed in late morning trading on Monday as a rise in bond yields paused and technology stocks gained. US Treasury yields recovered from almost four-year highs reached overnight as investors weighed whether a dramatic week-long selloff had run its course. Benchmark 10-year note yield surged to 2.

885 per cent overnight, the highest since January 2014, but fell back to 2.841 per cent in morning trading. Rising bond yields mean higher borrowing cost for companies and an alternative investment.

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