The S&P 500 Index ($SPX) (SPY) closed down by -0.45% on Tuesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.63%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.65%. E-mini S&P futures (ESU26) fell -0.44%, and September E-mini Nasdaq futures (NQU26) fell -0.61%.
Stock indexes settled lower on Tuesday, with the S&P 500 and the Dow Jones Industrials falling to 6-week lows. Stocks are under pressure as elevated crude oil prices raise inflation expectations and push bond yields higher worldwide. Crude prices surged by more than +4% on Tuesday, pushing the 10-year T-note yield to a 19-year high of 5.04%. The 10-year German Bund yield also rose to a 17-year high of 3.57%, and the 10-year Japan JGB yield rose to a 30-year high of 3.04%.
