Dow Jones, S&P 500, Nasdaq: Wall Street Closes Lower
Rising oil prices and increasing yields on US government bonds continue to weigh on sentiment on Wall Street. Investors are waiting for several dates during the trading week.
US stocks fell at the start of the new trading week, with the Dow Jones dropping 0.7% to 51,482 points, the S&P 500 down 0.8% to 7,684 points, and the Nasdaq falling 0.9% to 26,820 points. The sell-off in US government bonds continued, driven by rising oil prices after US President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz.
Oil prices initially rose over 4%, but later pared gains. The yield on 10-year US Treasuries rose above 5.2%, the highest in nearly two decades, and the 30-year bond yield exceeded 5.5%. Investors expect further interest rate hikes by the Federal Reserve due to persistent inflation.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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