S&P 500 Falls 0.7% Amid Rising Treasury Yields, Breaking Key Rising Wedge

The S&P 500 index is experiencing a decline of 0.7% today as the yield on 10-year Treasury bonds continues to rise. This downturn follows the breach of a significant level within a rising wedge pattern, indicating potential instability in the market. Analysts are raising concerns about whether stocks are overdue for a correction, particularly as the close of today's trading session is viewed as critical for determining the market's direction. The volatility index (VIX) is also being monitored as investors react to these developments.