US Stocks Plummet as Oil Prices Soar and Treasury Yields Rise

The US stock market took a hit on Monday as rising oil prices and Treasury yields weighed on equities. The Nasdaq Composite Index led the decline, dropping 0.97% to 26,806.81.

Rising energy prices were a major factor in the market's downturn, with Brent crude surging above $106 per barrel. This has raised concerns about inflation and put pressure on growth stocks.

Nvidia stood out from its tech peers, however, as it announced an additional $150 billion stock buyback authorization, sending its shares up 3% to $231.74.