Treasury yield hits 5.16%, stocks fall as bond selloff deepens

A bond selloff intensified Thursday, sending the 10-year Treasury yield to 5.16%, a fresh 19-year high. The Dow fell more than 300 points and the Nasdaq dropped nearly 1%. The 30-year yield approached a 22-year peak. Oil rose to $102 a barrel (Brent December contract). Traders remain focused on the impact of higher yields on equity valuations and on the Trump-Xi summit, where a trade truce was extended to mid-January.