Oil Prices and Bond Yields Weigh Down Wall Street

Stocks closed broadly lower on Tuesday as higher oil prices and rising bond yields put pressure on Wall Street. The S&P 500 index fell 0.7%, while the Dow Jones Industrial Average dropped 0.8% and the Nasdaq composite slid 1%. Technology stocks were among the heaviest weights, with Nvidia falling 1.5%, Amazon dropping 1.9%, and Advanced Micro Devices giving up 2.4%

The bond market sell-off deepened, putting more pressure on stocks. The yield on the 10-year Treasury rose to 4.79% from 4.75% late Monday, while the yield on the 2-year Treasury climbed to 4.39% from 4.34%.

The continued pressure on Wall Street is also driven by an ongoing sell-off in U.S. government bonds. The rising yields signal that investors are demanding a higher return from Treasurys because they are becoming riskier, highlighting the growing government debt and its impact on interest rates.