These U.S. 10-year levels will indicate whether market sell-off will worsen, Jim Bianco says

The S&P 500 just closed its worst day since May on Monday, accelerating a September slump triggered by China’s Evergrande debt crisis, seasonal weakness and a looming deadline to raise the debt ceiling.

Those concerns contributed to market unease, but Bianco Research President Jim Bianco says the market’s next move all comes back to one central theme: interest rates.