Rising bond yield hurts equity market

Over the past few days, a surge in bold yields has contributed to steep fall in equity markets.

Context

Over the past few days, a surge in bold yields has contributed to steep fall in equity markets.

The yield of a bond is the effective rate of return that it earns. But the rate of return is not fixed — it changes with the price of the bond.

Yield inversion happens when the yield on a longer tenure bond becomes less than the yield for a shorter tenure bond.
A yield inversion typically portends a recession.
An inverted yield curve shows that investors expect the future growth to fall sharply; in other words, the demand for money would be much lower than what it is today and hence the yields are also lower.
A steep yield curve when there is a large spread in interest rates between shorter-term bonds to longer-term bonds — often precedes a period of economic expansion, as investors bet that a central bank will be forced to raise rates in the future to tamp down higher inflation.
In normal bond yield this positive slope reflects investor expectations for the economy to grow in the future and, importantly, for this growth to be associated with a greater expectation that inflation will rise in the future rather than fall.
This expectation of higher inflation leads to expectations that the central bank will tighten monetary policy by raising short-term interest rates in the future to slow economic growth and dampen inflationary pressure

Investors believe having better return in bond market rather than equity (stock market).
So there money shifts it position by triggering a sale of shares and investing same money in bonds.