Wall Street Stocks Close Lower Amid Rising Bond Yields

Stocks on Wall Street closed modestly lower on Tuesday as rising long-term Treasury yields weighed on the market.

The S&P 500 slipped 0.2 per cent after wavering between gains and losses throughout the day, while the Dow Jones Industrial Average dropped 0.3 per cent and the Nasdaq composite fell 0.1 per cent.

Nvidia's decline of 0.7 per cent was a key factor in the market's downturn, as the tech giant gave up an early gain to close lower.

The price of Brent crude oil fell 1.7 per cent to settle at US$96.16 a barrel, helping to push Treasury yields to their highest levels in 24 years.