Oil and Treasury yields climb as Nasdaq falls 1.2% and Dow drops more than 350 points
Major US stock indexes moved sharply lower intraday, with the Nasdaq Composite down 1.2%, the Dow Jones Industrial Average off more than 350 points and the S&P 500 down 0.9%. Brent crude rose more than 2% to $106.79 a barrel and WTI hovered around $94.40, adding to inflation worries. The benchmark 10-year Treasury yield broke above 5.2% and the 30-year yield rose above 5.5%, both at multiyear highs. Big tech stocks were under pressure, with AMD down about 3% and Micron, Microsoft and Meta also falling.