Wall Street Slides on Rising Bond Yields and Oil Prices

Wall Street closed in negative territory on Tuesday due to rising bond yields and oil prices. The S&P 500 lost 0.69% to settle at 7,691.76, while the Dow Jones Industrial Average fell 0.22% to 53,343.40. The tech-heavy Nasdaq composite slipped 1.33% to 26,289.71.

Chip stocks were among those that faltered, with SanDisk Corporation shares declining 9.01% to $1,625.76 and Nvidia losing 2.34% to $219.74. Other tech companies, including Western Digital, Marvell Technology, and Seagate Technology, also fell by 7.43%, 7.82%, and 9.16%, respectively.

The US 30-year yield recorded a 19-year high, while Germany's 30-year government bond yield reached its highest level since 2011. Japan's 10-year bond yield scored its highest level in three decades.