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US shares fell on Monday as a rise in Treasury yields added pressure to Wall Street, with all three main stock indexes closing lower.
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The Dow Jones Industrial Average closed at 51,481.51, down 0.7%. The S&P 500 fell 0.8% to 7,683.69, while the Nasdaq Composite lost 0.9% to finish at 26,820.38. All three had risen on Friday. [1] [2]
The yield on the 10-year US Treasury bond climbed above 5.2%, its highest level in years, ANP reported. Higher bond yields can make shares less attractive by offering investors a better return elsewhere. ANP also cited concern that persistent inflation could lead investors to demand higher interest rates. [1]
Oil prices pulled back from their highs earlier in the day as expectations grew that Qatari mediators would hold talks with the US and Iran, Reuters reported. The talks were still prospective: Reuters said mediators were likely to meet the two sides separately on Monday or Tuesday. [5] [6]
Despite retreating from their intraday highs, oil futures settled higher: Brent rose 0.9% to $105.28 a barrel and US crude edged up 0.2% to $92.60. [5] CNN separately reported, citing an unnamed US official, that President Donald Trump was willing to offer Iran sanctions relief and release frozen funds as part of a final deal, conditional on concrete progress on nuclear issues. The official said the sides had not agreed on the timing of their commitments. [3]
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