US: Stocks Dip as Elevated Yields Weigh.

US stock indices closed mostly lower on Tuesday, weighed down by another rise in Treasury yields to fresh multiyear highs. The S&P 500 fell 0.2%, and the Dow shed 130 points, while the Nasdaq rose 0.2%. Elevated oil prices and yields continued to pressure equities, with the 10-year yield trading near levels not seen since 2007 and the 30-year yield hovering around a 2004 high. Inflationary pressures from elevated crude and fuel prices, along with concerns over fiscal deficits, drove the bond selloff. New York Fed President Williams said another interest rate hike could be necessary this year. Bank stocks moved lower, with Bank of America down 0.9%. AI hyperscalers and chipmakers, both facing record levels of debt issuance, traded mixed. Alphabet fell 0.5% and Nvidia lost 0.7%, while Meta gained 3.2%, Oracle jumped 4%, Broadcom added 1.6% and Micron rose 1%, as the planned Anthropic IPO lent some support to the tech sectors. The IPO could value Anthropic at over $2 trillion.