Wall Street falls as oil and Treasury yields pressure stocks

Wall Street closed lower on Monday, with rising oil prices and higher borrowing costs pressuring stocks. The Dow Jones fell 0.67%, the Nasdaq dropped 0.92%, and the S&P 500 lost 0.77%. The persistent standoff between Washington and Tehran rattled markets, as President Donald Trump rejected an Iranian offer to reopen the Strait of Hormuz. Brent crude rose nearly 1%, staying above $100, fueling fears the Federal Reserve will tighten monetary policy to fight inflation. U.S. Treasury yields climbed to 5.23%, a 19-year high, as investors demanded more compensation for inflation risks. Key employment data and the PCE price index are due this week, while MongoDB plunged 18.48% and Boeing fell 6.91% on a software defect.