Major indices fell as a failed Treasury auction and Brent crude prices topping $107 stoked inflation fears, pushing the 10-year yield to a three-year high.
U.S. crude futures jumped to multi-month highs on Iran war and supply fears.
Brent crude futures surged above $107, amplifying inflation and rate-hike expectations.
Treasury yield surge and oil price spike drove Dow lower for fourth straight session.
S&P 500 fell as rising yields and inflation fears hit equity valuations.
Nasdaq Composite declined on tech borrowing cost concerns from higher bond yields.
U.S. equities extended their losing streak to four sessions as Treasury yields surged toward the 5% threshold. Investors remain skeptical of Treasury Secretary Scott Bessent's buyback efforts, while rising oil prices and increased odds of a Federal Reserve rate hike fuel broader market volatility.
Traders were underwhelmed by the $5.2 billion buyback volume, which fell short of market expectations and failed to offset the impact of a poorly received 30-year bond auction.