U.S. equity benchmarks closed in the negative territory during the regular trading session on Sep 28. This is because the rise in bond yields took the steam out of the stock market rally. The 10-year Treasury yield climbed for the sixth straight trading session and touched its highest level yesterday since June. The 10-year Treasury yield increased nearly 5 basis points to 1.534% on Sep 28, while it traded as low as 1.13% last month, as mentioned in a CNBC article.In contrast, the Dow and the S&P 500 dropped 1.6% and 2%, respectively. In fact, the S&P 500 registered its worst one-day percentage decline since May 12, per Dow Jones Market Data, citing a MarketWatch article. Most importantly, it’s the tech-heavy Nasdaq that tanked 2.8%, its worst daily percentage drop since March, citing the CNBC article. Of course, an increase in bond yield damaged the allure of tech stocks perceived as growth-oriented and widely considered riskier investments. Stocks that are sensitive to the economic cycle weren’t spared the selling pressure either.Investors, by the way, for quite some time have been shunning government bonds on expectations that the Fed will eventually hike rates next year. Moreover, many market pundits believe that the European Central Bank will join the Fed in hiking rates in 2022. Thus, the Fed’s moving away from its accommodative stance spooked investors since such a policy helped the economy stay afloat amid the coronavirus pandemic and propelled stocks higher. Also, the Fed has given enough signal that it may taper its monthly asset purchasing program soon.Nevertheless, the possibility of higher interest rates in the near future affects tech companies’ ability to fund their growth and buy back stock. Additionally, a budget slowdown and discouraging economic data weighed on investors’ sentiment as well. On Sep 27, Republicans at the Senate blocked a bill that would have funded the government. It would have also suspended the U.S. debt ceiling until December 2022. This means the government is now running out of time to avoid a shutdown over and above a default. Undoubtedly, such developments don’t bode well for the economy vis-à-vis the stock market. And talking about the economy, U.S. consumer confidence slipped to a seven-month low in September, per the Conference Board, citing the MarketWatch article.But amid such gloomy developments heading into the fourth quarter, investors shouldn’t ignore equities. In reality, one can invest in dividend payers without worrying about the stock market’s performance in the near term. This is because companies that pay dividends are known for having sustainable business models. They also have a long track of profitability and are unfazed by market volatility.We have, thus, highlighted five such stocks that have a Zacks Rank #1 (Strong Buy) or 2 (Buy) and provide high yields.American National Bankshares, Inc. AMNB is a one-bank holding company. The company has a Zacks Rank #2. It has a dividend yield of 3.3%, while its five-year average dividend yield is 3.2%. The company’s expected earnings growth rate for the current year is 19.4%.The Chemours Company CC is a leading provider of performance chemicals that are key ingredients in end-products and processes across many industries. The company has a Zacks Rank #1. It has a dividend yield of 3.4%, while its five-year average dividend yield is 3.1%. The company’s expected earnings growth rate for the current year is 86.4%.Hanesbrands Inc. HBI engages in the design, manufacture, sourcing and sale of apparel essentials for men, women and children in the United States and internationally. The company has a Zacks Rank #1. It has a dividend yield of 3.2%, while its five-year average dividend yield is 3.4%. The company’s expected earnings growth rate for the current year is 20%. You can see the complete list of today’s Zacks #1 Rank stocks here.Kinder Morgan, Inc. KMI is a leading midstream energy infrastructure provider in North America. The company has a Zacks Rank #1. It has a dividend yield of 6.4%, while its five-year average dividend yield is 4.6%. The company’s expected earnings growth rate for the current year is 47.7%.Simon Property Group, Inc. SPG is a leading publicly-traded real estate investment trust (REIT) in the United States. The company has a Zacks Rank #2. It has a dividend yield of 4.5%, while its five-year average dividend yield is 5.5%. The company’s expected earnings growth rate for the current year is 18.8%. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Hanesbrands Inc. (HBI): Free Stock Analysis Report Kinder Morgan, Inc. (KMI): Free Stock Analysis Report American National Bankshares, Inc. (AMNB): Free Stock Analysis Report The Chemours Company (CC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research