Stocks are facing a second straight day of declines as investors fret over just how high bond yields might go.

Here's what's moving markets today:

-- Yield rise redux: The selloff in bonds is driving Treasury yields to ever more eye-catching milestones, with the 30-year bond yield reaching a new 24-year high and the 10-year yield also nearing its highest level since 2002.

-- Oil prices: The rally in crude oil prices is taking a breather, amid signs that the U.S. Navy and Gulf oil producers have gotten better at fending off or evading Iranian attacks, allowing more tankers to cross the Strait of Hormuz.

-- Deal delay: Smart-ring maker Oura said it was delaying its previously announced initial public offering due to market uncertainty. The San Francisco-based company, which was expected to fetch a valuation well above the $11 billion achieved in a funding round last year, said Tuesday it was postponing its listing "despite strong demand, due to uncertainty in the IPO market."