Rising Oil Prices Weigh on Stocks Amid Ongoing Trade Tensions

Stocks closed lower on Tuesday as the threat of rising oil prices continued to weigh on investors. The S&P 500 index fell 0.7%, with technology stocks leading the decline, including Nvidia, which dropped 1.5%. Amazon and Advanced Micro Devices also fell by 1.9% and 2.4%, respectively.

The bond market sell-off deepened, with yields on the 10-year Treasury rising to 4.79% from 4.75% late Monday. This increase in yields signals that investors are demanding a higher return from Treasurys due to growing government debt and risk.

Oil prices have been a major contributor to inflation concerns, with Brent crude rising 4.6% to settle at $94.65 per barrel. The U.S. oil price climbed 5.2% to settle at $90.22, the first time it closed above $90 in over a month.

The ongoing trade tensions and global conflicts are also affecting the stock market, with every major index losing ground for three consecutive days.