Despite its recent advance, the 10-year yield remains "in a downtrend" and faces resistance at the 4.09% level and near the 200-day moving average of 4.16%, said Adam Turnquist, chief technical strategist for LPL Financial in Charlotte, NC. Until these levels are conquered, upside rallies in the yield "should be viewed as temporary."

Stocks are heading into the week on a down note, with inflation data, oil prices and Treasury yields in sharp focus.

U.S. stocks slid after Treasury yields hit their highest levels since the summer and oil prices continued to climb

Meanwhile, oil prices continued to surge on Monday, rising by about 4% as tensions in the Middle East continued to simmer on the first anniversary of the Hamas-led attack against

U.S. stocks are slipping Monday after Treasury yields hit their highest levels since the summer. The S&P 500 was down 0.6% in afternoon trading, though it’s still close to its all-time high set a week ago.

U.S. stocks are slipping as pressure rises from the bond market after Treasury yields hit their highest levels since the summer. The S&P 500 fell 0.3% in early Monday trading,

"We can't rule out 'higher for longer' making a comeback this winter," Yardeni Research said of the strong jobs report and recent jump in rates.

The Dow pulled back on Monday morning, pressured by a sharp rise in Treasury bond yields, which surged to their highest levels in two months. Escalating tensions in the Middle East added further uncertainty,