Markets face pressure as 10-year T-note yields hit 2.75-year highs and energy costs climb, triggering a broad sell-off in chipmakers and copper producers.
The S&P 500 dropped to a 5-week low amid rising bond yields and inflation concerns.
Nvidia led Dow losers down over 2% as chipmakers slid on rising yields and trade war fears.
WTI crude rose over 3% to a 3.5-month high on fears of prolonged US-Iran conflict.
Freeport-McMoRan dropped over 7% amid falling copper prices and tariff uncertainty.
AeroVironment surged 10% after reporting strong Q1 revenue above consensus.
Copper prices fell over 4% on uncertainty over US refined copper tariffs.
US stock indexes retreated to 5-week lows as rising bond yields and persistent inflation concerns rattled investors. WTI crude oil surged over 3% to a 3.5-month high amid escalating US-Iran conflict fears, while stronger-than-expected PPI data fueled expectations for further interest rate hikes.
Stocks are under pressure due to a combination of rising global bond yields, higher energy prices, and stronger-than-expected PPI data that suggests persistent inflation.
Oil prices are rising due to fears of a prolonged conflict between the US and Iran, alongside reports of reduced production from Saudi Arabia.