The S&P 500 Index ($SPX) (SPY) is down -0.42% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.69%. E-mini S&P futures (ESU26) are down -0.40%, and September E-mini Nasdaq futures (NQU26) are down -0.65%.
Stock indexes are under pressure today, with the S&P 500 and Dow Jones Industrials dropping to 5-week lows. Soaring energy prices are pushing global bond yields higher today, weighing on stocks. WTI crude oil is up more than +3% today at a 3.5-month high amid fears that the US-Iran war will persist, increasing inflation risks and prompting the world’s central banks to keep raising interest rates. The 10-year UK Gilt yield rose to a 19-year high today of 5.36%, the 10-year German Bund yield climbed to a 15-year high of 3.50%, and the 10-year T-note yield rose to a 2.75-year high of 4.93%.
