Wall Street's main indexes closed lower on Tuesday after the benchmark 10-year Treasury yield climbed to its highest level in more than a year on mounting inflation concerns. Elevated oil prices and anxiety over the lack of a peace agreement between the U.S. and Iran also weighed on investor sentiment.
The S&P 500 and the technology-heavy Nasdaq marked their third straight day of declines as investors booked profits following a strong rally since late March. Markets also weighed the possibility that the Federal Reserve could resume interest rate hikes if inflation remains persistent.
