Stock Market Declines Amid Higher Oil Prices, Elevated Yields

Wednesday's pre-market stock futures were trading mixed, weighed down by higher oil prices, elevated yields on Treasury notes and bonds, and growing concerns over the war in Iran. The Nasdaq led the decline, closing at 26,289, down 1.33%, while the Russell 2000 closed lower by 1.30% at 3,017.

The S&P 500, which had been setting new all-time highs last week, finished Tuesday at 7,691, down 0.69%. The Dow Jones Industrial Average fared slightly better, closing at 53,343, down just 0.22%. Meanwhile, Treasury bond yields fell across the curve as buyers turned out in full force.

Oil prices were modestly higher on Tuesday, with Brent Crude up 0.33% at $98.20 and West Texas Intermediate closing the day at $85.22, up 0.93%. Natural gas had a solid day, closing the session at $2.79, up 3.75%.

Cryptocurrencies followed their usual pattern on Tuesday, with Bitcoin trading in a narrow band between $64,000 and $64,700 after a brief intraday spike above $65,000. Ethereum held near $1,910 as geopolitical tensions kept overall crypto sentiment cautious.