US stocks fall as oil exceeds 100

U.S. stocks declined significantly at the close of trading on Wednesday after oil prices surpassed $100 per barrel. Additionally, U.S. 10-year Treasury bond yields rose to their highest level since November 2023. The S&P 500 index fell by 36.36 points, or 0.47%, while the Nasdaq Composite declined by 164.77 points, or 0.62%. The Dow Jones Industrial Average also dropped by 0.76%. Meanwhile, the Energy sector was the only sector in the S&P 500 to rise, and Treasury yields resumed their upward trend following the Treasury Department’s announcement of bond purchases worth up to $6 billion. Market participants are now awaiting upcoming inflation data, which will influence the Federal Reserve's decision on interest rate hikes.

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