Didi shares extended their drop, while Alibaba Group BABA.K and Bidu Inc BIDU.O both ended the session lower. "We're still effectively at all-time highs, so I wouldn’t read much into today's market action," said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. "The bond market is reflecting that the probability of there being material inflation over a long period of time is very unlikely, and that’s the fear that had been driving yields higher" before the recent rally, Pursche added.