Stocks slip on Wall Street as rising Treasury yields pressure the market

Stocks experienced a decline on Wall Street on Tuesday due to rising Treasury yields. The S&P 500 fell by 0.3 percent after fluctuating throughout the morning, while the Dow Jones Industrial Average dropped 232 points, or 0.5 percent, as of 1:45 p.m. Eastern time. The Nasdaq composite also saw a slight decrease, falling 0.2 percent.

Although major indexes were pressured lower after a relatively calm morning, technology giants like Nvidia saw a loss of their early gains and remained relatively stable, while Broadcom's gains were mostly erased, with the stock trading up by 1.6 percent. The ongoing pressure on stocks is attributed to the surge in Treasury yields, which hit their highest levels in 24 years.

This increase in yields can be attributed to the continued conflict between the U.S. and Iran, which has led to significant volatility in oil prices. The price of Brent crude oil, the most actively traded oil market, fell by 1 percent to $96.84 a barrel, briefly reaching $100 on Monday before settling slightly lower. Despite this dip, oil prices remain considerably higher than the roughly $72 per barrel they were prior to the U.S. and Israel's strike on Iran in late February.