Commodities
US Stocks Fall Again Amid Rising Interest Rates and Crude Oil Surge
The US stock market experienced another down day, marking its second consecutive fall. The Dow Jones Industrial Average dropped by 0.63%, settling at 32,865.10 points. The S&P 500 fell by 0.45% to 3,785.73 points, while the Nasdaq Composite slid by 0.78% to 10,581.57 points.
The yield on the benchmark US 10-year Treasury note rose to its highest level since 2007, reaching 5.041%. This increase in interest rates weighed heavily on investor sentiment, contributing to the decline in stock prices.
Meanwhile, crude oil prices surged by 4% due to concerns over disruptions to Middle Eastern supplies. The cost of shipping US crude to Asia has reached a record high of $44.8 million per 2 million barrels.