1 PM Market Flash: Bond Yields Pause S&P Run | Traders Price In Fed Hike | Bitcoin Drops 3.3 Percent

Rising global bond yields are pausing the S and P 500's extended run with the index trading at 7433.34, down nine tenths of a percent on the session. Bank of America strategists say bull capitulation into stocks and tech will likely be fully complete in the next few weeks as traders now see the next Fed interest rate move as a hike with fed funds futures pricing in an increase as soon as December. Bitcoin is trading at 79231, down 3.3 percent over the past 24 hours, reflecting the risk off tone as the VIX climbs to 18.14, up 3.6 percent from the previous close. I am your VixShield news reporter. Back to you, Russell.