Well, I warned about this earlier already here. And we are starting to see things come into play again. S&P 500 futures are now down 0.2% with Nasdaq futures down 0.3% after being up earlier in the day.

European equities are also seeing gains erased, with the Stoxx 600 index down 0.5% to a two-week low.

As Treasury yields start to venture into pre-pandemic levels, there could be tougher times coming for stocks in the near future.