Stocks rally fades; bond yields, dollar rise

A rally in major world stock markets lost some steam on Thursday as investors reassessed positions after a rally in the prior session, while U.S. bond yields continued to climb on fears of a revival in inflation under President-elect Donald Trump's fiscal policy. Investors have quickly shifted to a focus on Trump's priorities, including tax cuts, an increase in defense and infrastructure spending, and bank deregulation. Wall Street was also off earlier highs, pulled lower by a drop in the techno