US yield surge keeps indices in the red; Sensex falls 656 points

Costlier oil also weighing on sentiment; analysts see no let-off in volatility

The benchmark indices on Wednesday declined about 1 per cent for the second day in a row amid risk aversion triggered by the spike in the US bond yields, which investors see as a precursor to the end of the easy money regime.

The 10-year US Treasury yield inched towards 1.9 per cent overnight, with experts seeing it hit 2 per cent

by March.

The benchmark Sensex ended the session at 60,099, following a decline of 656 points or 1.04 per cent. The index has come off 1,210 points, or 1.93 per cent from its 2022 high of 61,309, recorded