Despite its recent advance, the 10-year yield remains "in a downtrend" and faces resistance at the 4.09% level and near the 200-day moving average of 4.16%, said Adam Turnquist, chief technical strategist for LPL Financial in Charlotte, NC. Until these levels are conquered, upside rallies in the yield "should be viewed as temporary."

A sharp move higher in Treasury bond yields, as well as a supply-concern rally in oil tied to the ongoing war in the middle east region, added to the session's downbeat tone, while the benchmark Vix volatility index touched the highest levels since early September.

"We can't rule out 'higher for longer' making a comeback this winter," Yardeni Research said of the strong jobs report and recent jump in rates.

U.S. stocks slid after Treasury yields hit their highest levels since the summer and oil prices continued to climb

U.S. stocks are slipping Monday after Treasury yields hit their highest levels since the summer. The S&P 500 was down 0.6% in afternoon trading, though it’s still close to its all-time high set a week ago.

Stocks are heading into the week on a down note, with inflation data, oil prices and Treasury yields in sharp focus.

U.S. stocks are slipping as pressure rises from the bond market after Treasury yields hit their highest levels since the summer. The S&P 500 fell 0.3% in early Monday trading,