Wall Street Slumps Amid Rising Treasury Yields and Oil Prices

The US stock market struggled to gain traction on Tuesday, weighed down by rising Treasury yields and high oil prices. The S&P 500 fell 0.3% after wavering throughout the morning session.

The Dow Jones Industrial Average dropped 295 points, or 0.6%, as of 11:43 a.m. Eastern time. The Nasdaq composite declined 0.1% in early trading.

Despite the declines, some tech giants managed to buck the trend. Nvidia rose 0.9% and Broadcom gained 2.6%. However, this was not enough to offset the broader market's losses.

The ongoing US-Iran conflict continued to exert pressure on oil prices, which briefly climbed above $100 a barrel before easing slightly. The price of Brent crude oil fell 0.9% to $96.95 a barrel in the most actively traded part of the oil market.