The S&P 500's postelection rally has been erased

Getty Images; Alyssa Powell/BI

• The postelection rally in stocks was officially wiped out on Monday.
• At intraday lows, the S&P 500 was about 0.2% below its Election Day close.
• Investors are growing skittish about spiking bond yields and the prospect of higher inflation.

The stock-market rally fueled by Donald Trump's election win — which extended as far as 5.5% — has been wiped out.

The benchmark S&P 500 fell to 5,773.31 at intraday lows on Monday...