US stocks slid as the 10-year Treasury yield climbed to 4.84% and oil prices surged on supply disruption fears, marking the third straight day of losses for major indices.
The Dow Jones Industrial Average fell 405.41 points, or 0.77%, to 52,380.66.
The S&P 500 slipped 0.48% to 7,636.36 amid rising yields and oil prices.
The Nasdaq Composite fell 0.64% to 26,253.34 as growth stocks faced pressure from higher rates.
Brent crude settled up 3.36% at $101.21 a barrel, its highest close since May, on supply disruption fears.
West Texas Intermediate gained 3.25% to $96.05 as escalating US-Iran tensions stoked supply concerns.
US equity markets extended losses for a third consecutive session as the Dow Jones Industrial Average fell 0.77% to 52,380.66. Rising Treasury yields, which hit their highest level since November 2023, combined with a sharp rally in oil prices to dampen investor sentiment. Brent crude climbed above $101 per barrel amid escalating geopolitical tensions between the US and Iran.
The Treasury's announcement to buy back $6 billion in longer-dated debt fell below market expectations, which had anticipated a larger repurchase of $7 billion to $8 billion.