Stocks Waver Amid Crude Oil Price Hikes and Rising Interest Rates

The global stock market witnessed a mixed trend last week due to rising crude oil futures and interest rates. The Dow Jones Industrial Average dropped by $840.96, closing at $52,573.29, while the Nasdaq Composite Index fell by 173.95 points, closing at 26,333.04.

The crude oil market is expected to play a crucial role in determining the stock market's trend this week. The U.S. Federal Open Market Committee (FOMC) meeting will also be closely watched amid growing concerns over supply chains for Middle Eastern crude oil following attacks on pipelines in Saudi Arabia.

Long-term interest rates rose last week, with the yield on the 10-year U.S. Treasury note closing at 4.97%, up 0.01 percentage points from the previous day.