Wall Street slips from its record as a 5% Brent jump lifts yields and refocuses the inflation debate

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The S&P 500 slipped 4.53 points to 7,753.11 after reaching a record, while the Dow fell 60.95 points and the Nasdaq declined 85.26 points in the completed US session. The move was small at index level, but the cross-asset message was less calm: Brent crude rose about 5% to US$87.72 and the US ten-year Treasury yield moved to 4.70% from 4.65%.