Treasury Yields Weigh on Wall Street Amid Ongoing Iran Conflict

Stocks on Wall Street closed lower Tuesday as rising Treasury yields put pressure on the market. The S&P 500 slipped 0.2%, while the Dow Jones Industrial Average dropped 0.3%. The Nasdaq composite fell 0.1%.

The increase in long-term Treasury yields weighed on the market, undercutting gains made by several technology behemoths, including Nvidia and Broadcom. Nvidia lost 0.7%, but Broadcom rose 1.6%.

Rising oil prices have been fueling a jump in Treasury yields, which threaten to slow economic growth by making borrowing more expensive for individuals and businesses. They can also hurt stock prices, especially those of companies seen as expensive, like many technology firms that have soared due to AI frenzy.