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Nasdaq falls as Treasury yields climb and oil prices hit new highs
The Nasdaq Composite dropped 1.2%, while the 10-year Treasury yield rose to 4.74% and Brent crude futures reached $91 a barrel.
US stocks declined on Tuesday, with the Nasdaq Composite leading losses as rising Treasury yields and higher oil prices weighed on tech shares, according to Yahoo Finance. The tech-heavy index fell 1.2%, while the Dow Jones Industrial Average slipped 0.3% and the S&P 500 fell 0.6%, extending declines after a weak start to the week. Oil prices climbed to levels not seen in more than two weeks, with Brent crude futures rising to $91 per barrel and US West Texas Intermediate futures reaching $84 per barrel. Yahoo Finance linked the oil move to comments from President Trump about plans involving Iran and the Strait of Hormuz, and noted that the US Strategic Petroleum Reserve has fallen to its lowest level since 1982. The report also said global bond yields have been lifted by oil prices, an AI borrowing spree, and concerns over government borrowing. In the US, the 10-year Treasury yield increased to 4.74% and the 30-year yield rose to 5.32%, reaching a 19-year high. Yahoo Finance added that earnings have offered some support, though it pointed to Home Depot shares declining after its report showed sales improvement alongside customer shifts toward smaller projects, and Klarna shares falling after a trimmed outlook.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|S&P 500 7,785.76 ▼0.2%