Wall Street falls as Treasury yields surge, Middle East tensions weigh

Wall Street closed lower on Monday, with the Dow falling 0.7%, the S&P 500 declining 0.8%, and the Nasdaq slipping 0.9%, driven by escalating Middle East tensions and surging Treasury yields. The US 10-year Treasury yield jumped to 5.24% and the 30-year yield hit 5.56%, while the US Dollar Index spiked to 101.19. Semiconductor and AI stocks led the selloff, with Tesla, Intel, Meta, and Qualcomm falling 4%-7%, though Nvidia announced an additional $150 million buyback. Brent crude cooled to $105 a barrel from $108 on reports of increased Saudi pipeline flows, while a White House official said President Donald Trump may consider selective sanctions relief for Iran. In India, the Nifty fell below 22,800, its lowest since April 2, erasing ₹8 lakh crore in market capitalisation.