US stocks kicked off the week on the downside, with a surge in global bond yields, another rise in oil prices, and deeper concerns over the fate of the astonishing tech rally heading into the back half of the month.

The broader move in bonds, which lifted 10-year U.S. Treasury yields to as high at 4.631% in overnight trading and took 30-year paper to 5.159%, near the highest levels since 2007, was the more concerning aspect of the market's recent repricing, and suggests a decoupling from global oil prices that could test the tech rally over the coming weeks.

Benchmark 10-year notes last traded at 4.597%, still the highest in more than a year, after adding more than 20 basis points last week following hotter-than-expected inflation readings and another move higher in global crude prices.

Nvidia (NVDA) looks to be the darling AI stock that is dwelling in many of the stockbrokers as well as retail investor groups.