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U.S. stocks fell on Thursday after August producer price data and surging oil prices stoked worries the Federal Reserve will hike rates next week, while rising Treasury yields made stocks less attractive. Heavyweight chipmakers also lost ground.
10-Year Treasury Note futures ended lower as benchmark yields rallied to a new year-to-date high of 4.74% before settling at 4.73%. Yields climbed 30 basis points during July, driven by late-week strength in WTI Crude Oil futures following an unchanged policy decision at the July FOMC meeting. The rise in yields pushed