The S&P 500's correlation with the 10-year Treasury yield has plunged to -0.70, the lowest since 1999, as yields above 4.6% pressure equity valuations.

The S&P 500's correlation with the 10-year Treasury yield has plunged to -0.70, the lowest since 1999, as yields above 4.6% pressure equity valuations.

The S&P 500 and 10-year Treasury yield correlation hit -0.70, the most negative since 1999, as yields surpass 4.6%. Here's what it means for crypto.