Man, today was brutal for stocks. The bond selloff absolutely crushed the market - Dow dropped 816 points and both the S&P and Nasdaq got hit hard too. Worst day since April for all three major indexes. The thing is, those Treasury yields just kept climbing. The 30-year hit 5.10% and the 10-year sitting at 4.5%. Everyone's freaking out about the budget bill potentially adding more debt, so the VIX spiked back above 20.

The bond selloff ripple effect is real though. Oil took a beating because U.S. crude supplies came in way higher than expected. WTI dropped 0.7% to settle around $61.57 a barrel. Only bright spot was gold - managed to gain 0.7% to $3,307 an ounce on that weak dollar and flight-to-safety demand.

Interesting timing with all this happening too. OpenAI just dropped their biggest acquisition ever, and there's legal challenges mounting against tariffs. But yeah, the bond selloff was the main story today - hard to ignore when yields climb that much and take everything else down with them.