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Wall Street falls amid tech dip and higher oil, yields
U.S. Wall Street indices recorded a decline due to losses in major technology stocks, with the Nasdaq dropping by 1.30%. There were notable declines in semiconductor companies such as Nvidia and Meta. Meanwhile, the yields on 30-year U.S. Treasury bonds rose to their highest level since 2007, leading to a drop in stock prices and increased borrowing costs. At the same time, oil prices increased by 1.2% due to Iranian threats and rising geopolitical tensions. Expectations are also high for a 96% likelihood of interest rate hikes this year, while investors await results from artificial intelligence companies like Nvidia as an indicator of market momentum.
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