Nikkei 225 Index Falls Below 53,000 Points, Down 0.74% Intraday

Goldman Sachs strategist Peter Oppenheimer believes that healthy corporate earnings can still partially offset the pressure that high yields place on U.S. stock valuations, and that nominal economic expansion also supports corporate revenues. However, if bond yields rise rapidly, especially if the pace of the increase accelerates, this buffer will be significantly weakened and the stock market may come under pressure quickly.