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Wall Street drops on higher yields and oil
The Wall Street indices opened lower due to rising bond yields and oil prices, which diminished investors' risk appetite at the start of September, one of the weakest months for American stocks. The Dow Jones index declined by 102 points (0.19%) to reach 53,083.58 points, while the S&P 500 fell by 50.7 points (0.66%) to 7,635.47 points. The Nasdaq experienced the largest decline, losing 1.29% to close at 26,031.67 points, affected by pressure on technology and growth stocks. The continued rise in energy prices and expectations of tightening U.S. monetary policy reflect investor concerns, as the market awaits U.S. economic data for signs regarding the direction of interest rates.
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