Dow Jones falls 131.59 points as US Treasury yields hit multi-year highs

The Dow Jones closed down 131.59 points on Tuesday as US Treasury yields surged to multi-year highs, with investors awaiting key inflation and employment data. The index finished at 51,349.92 points, a 0.26% decline. The 30-year Treasury yield hit 5.6206%, its highest since June 2002, while the 10-year yield reached 5.293%, the highest since June 2007. Rising yields fueled concerns about higher borrowing costs, though losses narrowed as yields eased from peaks and oil prices fell. Investors weighed Federal Reserve officials' comments, with New York Fed President John Williams saying there was no need to rush on rate decisions. Markets now price a 51.5% chance of an October rate hike, down from nearly 70% earlier.