Nasdaq Slumps Over 1% Amid Treasury Yield Surge

The US stock market experienced a downturn on Wednesday, with the Nasdaq Composite falling over 1% amid a surge in Treasury yields. The CNN Money Fear and Greed index remained unchanged at 35, still indicating a 'Fear' zone sentiment.

Among the 'Magnificent Seven' stocks, Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) plummeted by 3.8%, while Amazon.com, Inc. (NASDAQ:AMZN) dropped 2.2% due to renewed scrutiny of AI-hyperscaler debt issuance.

Despite initial hopes for a breakthrough in US-Iran talks, which briefly pushed crude below $100 a barrel, officials announced that the negotiations fell short of any deal.