Wall Street falls as bond yields hit multi-year highs

Wall Street closed lower on Tuesday, pressured by rising bond yields, as the 30-year US Treasury rate hit its highest level since 2002. The Dow Jones fell 0.26%, the Nasdaq dropped 0.09%, and the S&P 500 lost 0.17%. The 30-year yield touched 5.62% in session trading before easing to 5.58%, while the 10-year yield stood at 5.25%, its highest since 2007. Analysts cited inflation fears fueled by the Middle East conflict and the rapid pace of rate increases as key drags on stocks. US consumer sentiment fell in September to a 12-year low, though Federal Reserve official John Williams said there was no "urgency" for further rate hikes. Investors now await upcoming economic data, including the PCE inflation gauge and September employment figures.