Stocks Finish Mostly Lower as Rising Crude Boosts Bond Yields
The S&P 500 Index closed lower by 0.33% on Monday, while the Dow Jones Industrial Average and Nasdaq 100 Index saw slight declines and gains, respectively. The broader market faced pressure due to escalating Middle East tensions, which drove up crude oil prices and heightened inflation expectations. Consequently, bond yields surged, complicating the outlook for US inflation.
WTI crude oil experienced a more than 2% increase after the US and Iran engaged in a series of strikes. The 10-year Treasury yield hit a 19-month high of 4.77%, while the S&P 500 futures fell by 0.28% and Nasdaq futures rose by 0.07%.
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