Stocks slip on Wall Street as rising Treasury yields pressure the market
NEW YORK — Pressure from another increase in Treasury yields weighed down stocks on Wall Street Tuesday. The S&P 500 fell 0.3 percent after spending most of the morning wavering. The Dow Jones Industrial Average fell 232 points, or 0.5 percent, as of 1:45 p.m. Eastern time. The Nasdaq composite fell 0.2 percent. Major indexes shifted lower after a quiet morning as increased pressure from the bond…
Wall Street stocks slipped on Tuesday amid rising Treasury yields, which put pressure on the market. The S&P 500 fell 0.3 percent, the Dow Jones Industrial Average dropped 232 points, or 0.5 percent, and the Nasdaq composite declined 0.2 percent by 1:45 p.m. Eastern time. Despite strong performances from several technology giants, major indexes slipped lower as the bond market's increased pressure weighed on the overall market.
Nvidia and Broadcom, among other tech companies, saw their gains eroded and were mostly unchanged. The tumult in the oil market due to the ongoing U.S. war with Iran, coupled with Treasury yields reaching their highest levels in 24 years, kept stocks under pressure. Brent crude oil prices fell 1 percent to $96.84 a barrel, briefly reaching $100 a barrel on Monday before easing, but they remain significantly higher than their pre-war price of around $72 per barrel.
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