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US stocks fall amid rising bond yields
The Dow Jones Industrial Average declined by 0.7%, the S&P 500 by 0.5%, and the Nasdaq by 0.7%, due to rising Treasury bond yields and oil prices. The U.S. Treasury Department announced doubling long-term government bond buyback operations to $6 billion, leading to the ten-year bond yield rising to 4.857%, the highest level since November 2023, amid investor concerns about inflation and expectations of higher oil prices. Oil prices rose significantly amid escalating tensions between the United States and Iran, with Brent surpassing $101 and West Texas Intermediate exceeding $96 for the first time since July, with forecasts reaching $120, adding pressure to the U.S. market.
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