Forex
US Stock Indices Fall as Treasury Yields and Oil Prices Soar
US stock indices fell on Tuesday as Treasury yields and oil prices rose to their highest levels in nearly two years.
The decline comes after Fed Chair Kevin Warsh's hawkish tone at Jackson Hole pushed rate-hike expectations higher, with the market pricing in a 65% chance of a hike in September.
Treasury yields have reached an almost two-year high, increasing the opportunity cost of holding stocks and putting pressure on equities.
The Nasdaq 100 has fallen back below its 50 EMA and is testing 29,000 support, with a break below this level potentially weakening the setup.