US stocks trade mixed after interest rates jump to the highest level since November

• US stocks ended mixed on Wednesday as the 10-year US Treasury yield jumped to levels not since November.
• Investors continue to fear the prospect of higher for longer interest rates as the Fed fights inflation.
• The inflation rate in Germany unexpectedly accelerated in February, raising fears that the same thing could happen in the US.

US stocks finished the first day of March in mixed territory as investors continue to fear the prospect of higher for longer interest rates.

The 10-year US Treasury yield $4 the highest level since November. Meanwhile, the 1-year Treasury yield jumped above 5.10% to its highest level since 2006.

The higher borrowing costs come as the Federal Reserve is expected to hike benchmark rates at least two more times to above 5%, and further increases could be possible as it attempts to tame inflation.

The inflation rate unexpectedly accelerated in Germany last month, and food inflation in the UK also surged, according to recent data. That's raising fears that the same thing could happen in the US. Any inflation readings that don't show meaningful deceleration raise the risk that interest rates will stay higher for longer.

Here's where US indexes stood at the 4:00 p.m. ET close on Wednesday:

• S&P 500>$4: 3,951.40, down 0.47%
• Dow Jones Industrial Average>$4: 32,662.04, up 0.02% (5.34 points)
• Nasdaq Composite>$4: 11,379.48, down 0.66%

Here's what else is happening this morning:

• $4 after the COVID-19 vaccine maker warned it has "substantial doubt" about its ability to stay in business through next year.
• $4 after the movie-theater chain posted a deeper fourth-quarter loss than expected.
• Rivian's stock price sank after $4 and it issued its third recall in 16 months.
• Hopes are building for $4 at its investor day Wednesday. Master Plan 3, robotaxis, cheap EVs and solar power are thought to be high on Musk's list.
• "Big Short" investor $4 if student debt is cancelled.
• Mortgage $4 as rates continue to edge higher, according to data from the Mortgage Bankers Association.

In commodities, bonds and crypto:

• $4 oil edged up 0.84% to $77.70 per barrel. $4, oil's international benchmark, rose 1.14% to $84.40.
• $4 rose 0.46% to $1,845.10 per ounce.
• The yield on the 10-year Treasury climbed eight basis points to 4.0%.
• Bitcoin fell 1.60% to $23,412, while ether dropped 1.15% to $1,639.