Commodities
US Stocks Tumble as Treasury Yields and Crude Oil Prices Soar
US stocks fell on Monday as Treasury yields and crude oil prices continued to rise.
The Dow dropped by over 360 points, while the S&P 500 and Nasdaq Composite slid 0.49% and 0.50%, respectively.
Treasury yields moved higher, with the benchmark 10-year yield rising more than 3 basis points to 5.219% and the 30-year Treasury yield climbing about 2 basis points to 5.529%.
Crude oil prices jumped after President Donald Trump rejected Iran's conditions for reopening the Strait of Hormuz, with Brent crude futures trading at $108.27 a barrel and WTI crude futures trading at $95.46 a barrel.