US financial markets have been whipsawed as bond market fears grow, pushing Treasury yields to their highest levels in more than 20 years, and oil prices continue to fluctuate, despite the Nasdaq and S&P 500 hitting record peaks. Wall Street closed lower on Wednesday as oil prices rose then fell due to renewed concerns about disruption to Middle East supplies. Stocks fell after closing at record highs in the previous session on Tuesday, with yields on US government bonds climbing to 24-year highs as investors worried about the impact of high oil prices on inflation and interest rates.
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