Wall Street falls as yields and oil prices rise
U.S. stocks declined on Tuesday as rising bond yields and higher oil prices pressured markets. Geopolitical tensions in the Middle East and a hawkish Federal Reserve outlook drove the selloff.
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United States stocks fell on Tuesday afternoon as a global sovereign debt selloff deepened and Brent Crude Oil prices spiked following escalating military actions involving Iran and Israel near the Strait of Hormuz. The S&P 500 lost 54.19 points, or 0.71%, to close at 7,631.95 points on the first trading session of September. Rising energy costs and higher bond yields have fueled investor anxiety over potential monetary policy tightening.
