Commodities
Stock Market Slumps Amid Rising Oil Prices and Bond Yields
The US stock market slipped on Tuesday as oil prices and bond yields exerted pressure.
The S&P 500 fell 0.4%, while the Dow Jones Industrial Average dropped 406 points, or 0.8%, by 12:52 p.m. Eastern time. The Nasdaq composite also declined by 0.7%.
The yield on the 10-year Treasury climbed to 5.00% from 4.97% late Monday and briefly touched 5.04% overnight, marking its highest level in years since breaching 5% in 2023.