Wall Street Stocks Slump Amid Soaring Treasury Yields

Stocks on Wall Street slipped modestly lower on Tuesday as rising Treasury yields put pressure on the market.

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

The shift lower in major indexes came despite a quiet morning, with rising bond yields undercutting the gains of several technology behemoths, including Nvidia, which gave up an early gain to close 0.7% lower, while Broadcom rose 1.6%.

The market remains under pressure due to sharp swings in oil prices, which have been fueled by the ongoing US-Iran conflict, pushing Treasury yields to their highest levels in 24 years.