Commodities
US Stocks Plummet as Bond Yields and Oil Prices Surge
US stock-index futures fell on Tuesday as investors grew cautious due to rising bond yields and an early-morning increase in oil prices. The tech-heavy Nasdaq 100 dropped 1.4% by 9:30 a.m. in New York, while the S&P 500 fell 0.6%. Brent crude oil erased its earlier gains, trading at around $91 a barrel.
The recent spike in bond yields has been a major concern for investors, leading to a decrease in riskier trades, including bets on AI and related tech. The increase in oil prices also contributed to the market's decline, as it may lead to higher inflation and slower economic growth.