US stocks retreated on Wednesday, weighed down by a renewed climb in crude oil prices and firmer bond yields, as investors held off for signs of progress in talks to end the Middle East conflict ahead of the closely watched US-China summit, Reuters reported.
Brent crude rose more than 2% to $101.92, snapping a five-session losing streak, though it stayed close to a two-week low. Government bond yields also edged up across the two-(4.87%) and 10-year (5.058%) tenors, reinforcing worries that borrowing costs will stay higher for longer.
