The S&P 500 declined on Tuesday, pressured by rising Treasury yields amid ongoing concerns about persistent inflation and higher oil prices.
A retreat in semiconductor stocks also contributed to the broader market downturn.
The S&P 500 fell by 0.5%, while the Nasdaq Composite dropped 1.1%. Western Digital declined nearly 7%, dragging down the Nasdaq, with SanDisk falling over 6%.
Marvell Technology and Seagate Technology each declined more than 6%. The Dow Jones Industrial Average decreased by 191 points, or 0.4%.
Meanwhile, the 30-year Treasury bond yield rose over 1 basis point to 5.323%, reaching levels not seen in nearly two decades. On Monday, the yield hit its highest point since June 2007.
Source (CNBC)
