US Stocks Decline as Treasury Yields and Oil Prices Climb
The Nasdaq and S&P 500 retreated on Monday as investors booked profits amid surging 10-year Treasury yields and rising crude oil prices. Technology and semiconductor shares led the market decline ahead of highly anticipated quarterly earnings from Nvidia and Walmart later this week.
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The S&P 500 fell 0.43%, the Nasdaq Composite dropped 0.89%, and the Dow Jones Industrial Average fell 0.01% on May 18 as rising Treasury yields pressured technology shares. This decline follows a rally where the S&P 500 rose 18% from its March 30 post-war low. Persistent inflation threats and surging borrowing costs weighed on investor sentiment.
