What is causing the struggle in US stocks as Treasury yields rise, with oil giants performing better and Bitcoin experiencing a decline on Thursday?

Stocks remained subdued on Thursday as increasing yields on long-term Treasury bonds reduced risk appetite. The yield on the US 10-year Treasury note rose to 4.31%, its highest level since October 2007. The 30-year yield also increased to over 4.4%, reaching its highest point since March 2011. Both the S&P 500 and the Nasdaq 100 hovered near unchanged levels during midday trading in New York. However, the energy sector outperformed all other sectors due to rising oil and natural gas prices. Investors remained cautious following the release of the latest FOMC minutes, which revealed concerns over significant inflationary risks. The S&P 500, Nasdaq 100, and Dow Jones Industrial Average all experienced small declines of 0.1%, while the Russell 2000 dropped 0.3%.