US stock indices decline as bond yields rise — Anadolu Agency
US stock indices ended Tuesday's trading lower amid rising US government bond yields and falling oil prices. This was reported by Anadolu Agency.
The Dow Jones index fell by 131.59 points, or 0.26%, to 51,349.92 points. The S&P 500 lost 12.85 points, or 0.17%, and closed at 7,670.84 points. The Nasdaq Composite declined by 22.84 points, or 0.09%, to 26,797.54 points.
Bond yields and oil
The yield on benchmark 10-year US Treasury bonds rose by 1.1 basis points to 5.253%.
Brent crude prices fell by 2.8%, or $2.94, to $102.35 per barrel. US WTI crude futures dropped by $3.50, or 3.8%, to $89 per barrel.
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Oil prices declined amid signs of improving supplies from the Middle East. In particular, Saudi Arabia resumed oil exports through the East-West pipeline after repairing damage caused by drone strikes. Increased tanker traffic through the Strait of Hormuz also eased immediate supply concerns.
Diplomatic contacts and sanctions
Uncertainty over diplomatic efforts to settle the war with Iran persisted. Iranian Foreign Minister Abbas Araghchi met with Qatari mediators in New York to discuss restoring the operation of the waterway.
Washington also imposed sanctions on 10 individuals and entities in Iran, Hong Kong and Pakistan. The United States said these individuals and companies had procured weapons and components for Iran's Ministry of Defense. According to the agency, the measures are part of President Trump's administration's campaign of economic pressure on Tehran, while prospects for renewed diplomacy remain uncertain.
European stock markets ended the day mixed. The pan-European STOXX 600 index fell by 0.09% to 638.08 points. Germany's DAX rose by 0.10% to 25,399.21 points, while Italy's FTSE MIB gained 0.09% to 51,804.94 points. Meanwhile, Britain's FTSE 100 lost 0.45%, France's CAC 40 declined by 0.53%, and Spain's IBEX 35 fell by 0.42%. The euro weakened by 0.28% to $1.134, its lowest level in about three months.
