As oil rises and Treasury plan yields rise, stocks decline – US Market Wrap

Stocks and bonds fell as oil prices rebounded, with losses widening after the Treasury announced plans to buy up to $6 billion in longer-dated government paper.
The reaction demonstrates that some investors had anticipated an even higher increase. Ten-year yields touched their highest level since 2023. Brent crude surpassed $101 as Middle East tensions fanned concerns about energy disruptions, adding to expectations that the Federal Reserve will boost interest rates to combat potential inflationary pressures. The S&P 500 declined for the third day in a row. Apple has unveiled a foldable smartphone.
Trump downplayed concerns about energy costs and the war, which he claims would finish after the midterm elections. However, hostilities show little indication of diminishing. Iran would expand counter-strikes if the US continues to assault its land and infrastructure, according to a top Islamic Republic official.
Despite the global dangers, the dollar has stuck near a seven-month low. The yen increased. Treasury Secretary Scott Bessent encouraged traders to put his resolve to increase Japan’s currency to the test, claiming that when he enters markets now, he is doing so with inside information.