Stocks cautious in Asia as oil gains, yields rise
Rising oil prices and multi-year highs in Treasury yields pressured equities as traders weighed renewed U.S.-Iran tensions and more Fed tightening.
- U.S. stocks fell Monday after President Donald Trump rejected an Iranian proposal, while rising oil prices heightened inflation concerns and pushed Treasury yields higher.
- The Dow Jones Industrial Average fell 0.74%, the S&P 500 declined 0.83%, and the Nasdaq Composite dropped 0.99% by late morning.
- Nvidia gained 2.1% after announcing a record $150 billion share-repurchase authorization, limiting broader market losses.
- Brent crude rose nearly 3% to about $108 per barrel, while the 10-year Treasury yield reached 5.27%, its highest level since June 2007.
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Wall Street Retreats as Oil Surge Revives Inflation and Fed Rate Fears
U.S. stocks closed lower Monday as escalating oil prices pushed Treasury yields higher and increased expectations for another Federal Reserve rate increase, while uncertainty surrounding ... The post Wall Street Retreats as Oil Surge Revives Inflation and Fed Rate Fears first appeared on [your]NEWS.
The New York stock market fell as oil prices rose and U.S. Treasury yields hit multi-year highs due to escalating tensions between the U.S. and Iran. Technology stocks took a hit due to concerns over interest rate hikes, and the market is placing a high value on the possibility of a further rate hike by the FOMC in October.
Today, as oil prices and treasury bonds rose, American equities declined at a time when investors are assessing the haze of the prospects for an agreement on Iran ' s war and its impact on the Fed ' s interest rate path (Central Bank of the United States).
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