NEW YORK — The stock market has a new priority: interest rates.

Stocks fell moderately yesterday after the government sold $19 billion in 10-year Treasury notes in a relatively weak auction.

The yield on the benchmark 10-year Treasury note rose for the fourth time in five days, jumping to 3.96 percent from 3.86 percent late Tuesday.

Investors are concerned the government's debt load is growing so large that it will lead to higher inflation and soaring interest rates. Higher interest rates could hamper the economy's recovery by raising borrowing costs for consumers, while inflation could also discourage them from spending.