The S&P 500 declined on Tuesday, pressured by rising sovereign bond yields reaching multi-decade highs amid ongoing concerns over persistent inflation and high oil prices.
Additionally, a decline in semiconductor stocks contributed to the broader market downturn.
The overall market fell by 0.5%, with the Nasdaq Composite dropping 1.2%.
Western Digital led the decline, falling 7% and weighing on the Nasdaq. SanDisk plunged 9%.
Other semiconductor stocks, including Marvell Technology and Seagate Technology, declined by 9% and 8%, respectively. The Dow Jones Industrial Average decreased by 73 points, or 0.1%.
Source (CNBC)
