Wall St slips as bond yields surge, BofA gains on strong earnings

By Bansari Mayur Kamdar and Sruthi Shankar (Reuters) -U.S. stocks fell on Monday as bond yields surged to three-year highs on expectations of an aggressive tightening in monetary policy, while financials rose after Bank of America rounded out earnings for big Wall Street banks with a profit beat. Market participants are bracing for a barrage of earnings this week that will help them assess the impact of the Ukraine war and a spike in inflation on company financials. The broader S&P 500 banks index rose 1.2%, lifted by a 3% gain in shares of Bank of America Corp. The second-largest U.S. bank by…

Read More