Getty Images; Alyssa Powell/BIThe 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, below its close of 5,782.76 on November 5.It's a testament to souring market sentiment as traders brace for higher interest rates and question whether the president-elect's protectionist policies will be the growth-rocket fuel they originally envisioned.Stock prices began to stumble in mid-December after the Federal Reserve adjusted its guidance for rate cuts in 2025.