In the worst session for equities since March, the S&P 500 fell 1.2%. A gauge of chipmakers — which had led a surge from war-driven lows — sank 4%. US 10-year yields topped 4.5% while those on Japan’s 30-year debt hit 4% for the first time. In the UK, a political crisis lifted long-bond rates to a 28-year high. The dollar extended this week’s gain. US crude settled above $105.
