HONG KONG – Oil prices swung Monday after a scare overnight where prices popped and then moderated, and the yo-yo moves kept stock markets worldwide unsettled.

The S&P 500 was down 0.3% after flipping between modest gains and losses. The Dow Jones Industrial Average rose 48 points, or 0.1%, as of 1:54 p.m. Eastern time. The Nasdaq composite was down 0.7%, though it remains near its all-time high set last week like the S&P 500.

The center of the action recently has been the world’s bond markets, where climbing yields have cranked up the pressure on economies and stock markets worldwide. Higher yields make it more expensive for households and businesses to borrow, which U.S. homebuyers are all too familiar with because of higher