NEW YORK — The stock market put its rally back on hold as investors worried about rising borrowing costs.

Yesterday, the Dow Jones industrial average erased most of the previous day's rally as a jump in government bond yields fanned concerns that higher interest rates will sap strength from the economy.

A steep drop in the price of the benchmark 10-year Treasury note pushed its yield up to 3.75 percent from 3.55 percent late Tuesday and to the highest level since November. Bond investors were selling on concerns that the huge amount of debt the government is selling to fund its bailout programs will ultimately keep Treasury prices down.