10-year Treasury yield hits highest level since 2002 as stocks retreat: AlphaCheck

Good morning. Stocks retreated on Wednesday as long-dated bonds climbed again and Brent crude oil futures ( BZ=F ) rose back above $100 per barrel.

The 10-year Treasury ( ^TNX ) yield, used as a benchmark for mortgages and other loans, rose to 5.34%, its highest level since 2002. Meanwhile, the 2-year Treasury climbed to 4.82%.

Stocks are coming off all-time highs, though the breadth of the market rally has deteriorated in recent weeks.

Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data .

Tech (XLK ) stocks retreated, with AI chip giants Nvidia ( NVDA ) and AMD ( AMD ) falling from all-time highs.

SpaceX ( SPCX ) stock dropped more than 1% as the Elon Musk-led company seeks to borrow $40 billion to fund the purchase of Nvidia chips, according to Bloomberg .

Bitcoin ( BTC-USD ) tumbled more than 3% to trade near $83,000 per token.

Here are some other notable stocks that Yahoo Finance readers are viewing this morning: Marvell ( MRVL ), Webull ( BULL ), and Constellation Brands ( STZ ).