The current stock market selloff is attributed to rising bond yields, including the 10yr treasury bond above 4.7%, the 30yr at 5.3%, and Japan's 30yr yields surging above 4%, alongside geopolitical uncertainty regarding Iran. Additionally, tech stocks are giving back some of their strong early-August gains following a 2-year low in the VIX volatility index. An attached chart shows the State Street SPDR S&P 500 ETF Trust (SPY) trading down 0.64% at $767.70.