Live Markets-Yields, oil and tech drag on US stocks with rate hike in sight

U.S. crude oil futures CLc1 settled up 4.38%, or $4.44, at $105.83 for their fourth straight finish above $100 after shipping industry sources said oil loadings at Saudi Arabia's Red Sea port of Yanbu had been suspended, and Libya halted operations at three oil fields, fueling concerns that disruptions to key oil supply routes could persist for weeks. Brent LCOc1, the international benchmark, settled up $3.07 at $108.75.

With traders pricing in a 94.5% probability, as per CME Group, for a rate hike after the Fed's meeting finishes on Wednesday, benchmark 10-year U.S. Treasury note yields US10YT=RR were hovering close to 5% after earlier hitting their highest levels since 2007.

Among the S&P 500's 11 major industry sectors, technology was the second-biggest weight behind consumer discretionary .SPLRCD, while energy .SPNY brought the biggest boost with support from rising oil prices. Consumer discretionary fell 1.8% while energy rose 2.3%. Heavyweight tech fell just 0.3%, but represented 9.7% of index point declines.