Wall Street falls as oil and Treasury yields pressure tech stocks

U.S. stocks fell Monday as rising oil prices and higher Treasury yields pressured markets, with the Dow Jones Industrial Average dropping 343.78 points, or 0.66%, to 51,484.84. The S&P 500 declined 0.76% and the Nasdaq Composite fell 0.91%. The declines were driven by inflation concerns from higher crude prices and Treasury rates, with the 10-year yield above 5.2% and the 30-year above 5.5%. Markets now price in a 70.3% chance of a Federal Reserve rate hike in October, up from 57.6% a week earlier. Nvidia bucked the trend, rising after announcing a $150 billion share buyback authorization. Most AI and tech stocks fell, including AMD, Micron, and Meta, while Boeing and Tesla also declined on company-specific issues. Investors await key economic data this week, including the PCE price index, manufacturing figures, and the September jobs report, which could influence Fed policy expectations.