US Stocks-Wall St slides as oil tops $100, yields hit 2023 high; Apple down before Ternus' first launch event as CEO
SPY•Wall Street falls as oil and yields climb
The main U.S. stock indexes fell on Wednesday as oil prices soared past $100 a barrel and Treasury yields rose, putting pressure on equities ahead of crucial inflation data expected later in the week.
At 11:53 a.m. ET, the Dow Jones Industrial Average fell 397.51 points, or 0.75%, to 52,390.60, the S&P 500 shed 34.18 points, or 0.45%, to 7,639.34, and the Nasdaq Composite lost 163.17 points, or 0.62%, to 26,258.24.
The overall declines make the market backdrop more fragile in a month that has been historically weak for returns.
Apple and other technology stocks move lower
Apple AAPL.O dropped 1.1% ahead of its first launch event under new CEO John Ternus, where it is expected to unveil a folding iPhone. Other technology heavyweights also fell, with Nvidia NVDA.O and Alphabet GOOGL.O down 0.60% and 2.54%, respectively.
