- The Nasdaq 100 fell 1.3%, the S&P 500 dropped 0.7%, and a chip-focused ETF declined 2% as higher oil prices and bond yields pressured technology stocks.
- Global bonds and US equity futures sold off as oil-driven inflation concerns increased expectations that central banks will raise interest rates in September; Treasury yields reached their highest level since 2008.
- Trump Media shares fell 3% as rising Treasury yields and surging oil prices hit speculative small-cap risk appetite.
Quotes
“The Nasdaq 100 Index tumbled on Tuesday”
“Two oil supertankers were struck by projectiles while attempting to exit the Strait of Hormuz.”
“Rising Treasury yields and surging oil prices are creating a punishing combination for speculative small caps”