On Tuesday, the S&P 500 declined as rising sovereign bond yields reached multi-decade highs, driven by ongoing concerns over persistent inflation and high oil prices.
A retreat in semiconductor stocks also contributed to the broader market downturn.
The S&P 500 fell by 0.69%, while the Nasdaq Composite dropped by 1.33%.
Western Digital led the declines with a 7% loss, dragging down the Nasdaq, alongside SanDisk, which declined 9%.
Marvell Technology and Seagate Technology also declined sharply, each falling around 8-9%. The Dow Jones Industrial Average decreased by 116 points, or 0.22%.
Source (CNBC)
