Wall Street slides as US rates climb; Nvidia bucks trend

Rising US market interest rates triggered a broad sell-off on Wall Street Monday, with the S&P 500 falling 0.8 percent, the Dow Jones industrials dropping 0.7 percent, and the tech-heavy Nasdaq composite declining 0.9 percent. AI-linked companies were among the biggest losers, with AMD and Micron falling 3.6 and 2.6 percent respectively. Nvidia bucked the trend, rising 1.7 percent after announcing an increase in its stock buyback program cap. The yield on ten-year US Treasuries reached 5.23 percent at market close. North Sea Brent crude oil also rose from $104 to nearly $108 per barrel since Friday evening, adding to investor concerns about inflation and higher borrowing costs.