Wall Street's main indexes closed lower with the Nasdaq leading declines, after the benchmark 10-year Treasury yield climbed to its highest level in more than a year on mounting inflation concerns as oil prices stayed elevated and investors were anxious about the lack of a peace agreement between the US and Iran.
The S&P 500 and the technology-heavy Nasdaq marked their third straight day of declines as investors took profits after a steep rally that started in late March.
Investors also considered the possibility that the next move by the Federal Reserve could be interest rate hikes, if inflation stays high.
