The three main indexes were trimming back losses in late morning trading Thursday. The Dow Jones Industrial Average was flat, while the S&P 500 fell 0.1%, and the Nasdaq Composite slipped 0.1%.

Major indexes traded lower in their first post-Christmas Day session, while a recent bond-market selloff deepened. One of Wall Street's hottest trades has nothing to do with crypto, EVs or AI. It's ...