US Stocks Drop as Oil Spikes and Treasury Yields Hit Multi-Year Highs

The Story

News Summary

U.S.
stocks retreated as surging crude oil prices and disappointing Treasury buyback operations drove 10-year yields to 4.83%.
The S&P 500 slipped 0.5% and the Dow lost 0.8%, while traders awaited key PPI and CPI inflation reports to evaluate the Federal Reserve's rate path.

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