The economy just posted its strongest growth signal in five years, and the market sold off. A key September survey showed U.S. business activity surging, while companies reported costs climbing at the fastest pace in four years. That combination is exactly what keeps the Federal Reserve in rate-hiking mode.

The 10-year Treasury yield closed near 5.1%, the highest since 2007. That yield feeds directly into mortgage rates. Traders now see about a 70% chance of another Fed hike in October, and the Nasdaq fell more than 1%.

Next week brings the Fed's favorite inflation gauge. A hot print would strengthen the case for October.

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