Markets Split as Treasury Yields Climb Toward Multiyear Peaks

The Dow Jones Industrial Average retreated 95.40 points to 51682.64, while the S&P 500 managed a modest gain of 12.74 points to reach 7650.50. The Nasdaq Composite outperformed its peers, adding 104.25 points to finish at 26522.55, buoyed by ongoing strength in the tech sector.

Broader market sentiment remains strained by the bond market, where the 10-year Treasury note yield rose to 4.995%, nearing a 19-year high. This upward pressure stems from rising commodity costs and shifting expectations regarding Federal Reserve policy. Concurrently, oil futures dropped 1.6% to $100.30 a barrel following reports that Saudi Arabia has signaled potential disruptions to crude deliveries for European customers next month after recent infrastructure attacks.