European indices are also all in negative territory, with the DAX also down by 0.1% after a decent open earlier. Other major indices in the region are down some 0.6% to 0.8% with the negative mood also reflected in US futures. S&P 500 futures are down 0.5% with Nasdaq futures down 0.6% currently.

In the bigger picture, it’s a case of shaving some off the top for equities. And investors can look to the bond market as a likely reason for that. 10-year Treasury yields are up again today, touching 4.21% currently.

The technical focus here is starting to get traders to stand up and take notice. And that means broader markets are also going to have to pay attention to that too.