US Stock Market Today: Wall Street Drops Again as Rising Oil and Treasury Yields Hit Risk Appetite

US stocks fell on Friday as higher oil prices and rising Treasury yields pushed investors away from risk assets. The NASDAQ 100 moved into correction territory after falling more than 10% from its October peak, while the S&P 500 headed for its fifth straight weekly loss. At the same time, Brent crude climbed near $111 a barrel as the war involving Iran continued to unsettle markets.

Stocks Slide as Oil and Yields Rise

Wall Street extended its decline before the weekend as traders reacted to the latest moves in oil and bonds. The S&P 500 fell about 0.8% in late-morning New York trading, while the NASDAQ 100 dropped about 0.9% and the Dow Jones Industrial Average lost about 0.9%. The Stoxx Europe 600 also fell 0.9%, showing that the pressure spread beyond the US.

Brent crude hovered near $111 a barrel, while West Texas Intermediate rose 3.7% to $98.01. At the same time, the yield on the 10-year US Treasury stayed near 4.42% after touching higher levels earlier. Higher yields often reduce demand for stocks as they make bonds more attractive and raise borrowing costs for companies.

Market attention stayed fixed on the Middle East. Iran and Israel continued exchanging missile fire, while reports said Tehran targeted several Gulf states. The conflict also kept focus on the Strait of Hormuz after President Donald Trump delayed his deadline for Iran to reopen the route or face attacks on power infrastructure.

NASDAQ 100 Correction Deepens Market Pressure

The NASDAQ 100’s drop took its decline from the October peak to more than 10%, which is widely seen as correction territory. Big Tech shares remained a key drag on the index, with most of the Magnificent Seven trading lower as traders reduced exposure to growth stocks.

The broader market also showed rising stress signals. The Cboe Volatility Index advanced to about 30, while the MSCI World Index lost 0.7%. Bitcoin fell 4.2% to $66,079.6, and Ether dropped 3.6% to $1,989.89, showing that weakness spread across risk assets.

Even so, lower equity prices have started to reduce valuations. The NASDAQ 100 traded at around 21 times forward earnings, down from 28 times in October and below its long-term average. This shift showed that the selloff has already changed how investors are pricing major technology shares.

Barclays strategists led by Emmanuel Cau wrote, “The risk is that constant flip-flopping and headline fatigue are starting to seriously undermine the efficacy of the ‘Trump put’.” They added, “Meanwhile, the war goes on, and the longer the oil shock, the more severe the stagflationary shock.”

Inflation Worries Add to the Unease

Fresh US economic data added to the cautious tone. The University of Michigan’s consumer sentiment reading fell to a three-month low in March, while year-ahead inflation expectations moved higher. Bloomberg’s monthly economist survey also showed higher inflation forecasts through year-end, with lower estimates for consumer spending, growth, and employment.

Fed officials also pointed to growing concern over the economic path. Fed Governor Lisa Cook said the rise in oil prices had shifted the balance of risks, leaving inflation as a bigger concern than employment. This added to the view that the Federal Reserve may have less room to cut interest rates soon.

Corporate Highlights

• Carnival shares fell after the cruise operator cut its full-year profit outlook as higher crude prices raised fuel costs.

• Anthropic PBC drew attention after a report said the company may consider going public as soon as October.

• Cybersecurity stocks declined after a Fortune report raised concern that an Anthropic AI model in testing could be used by hackers to bypass current defenses.

• Oaktree Capital Management said it was meeting all redemption requests for its $7.7 billion private credit fund aimed at retail investors.

• Sandisk shares rose after two sessions of declines linked to Google’s “TurboQuant” technique and its possible effect on memory demand.

• Western Digital shares also gained as chip stocks rebounded after the recent selloff tied to memory-demand concerns.

• Magnificent Seven stocks were mostly lower, adding pressure to the NASDAQ 100 during the broader tech selloff.

• Travel and leisure stocks remained under pressure as rising oil prices increased operating cost concerns.

• Energy-sensitive consumer stocks stayed in focus as fuel-driven inflation fears weighed on spending expectations.

Overall, rising oil prices, firmer Treasury yields, and continued tensions in the Middle East kept pressure on US stocks, with the NASDAQ 100 slipping into correction territory as investors grew more cautious.

Also Read: US Stock Market Today: Wall Street Falls as Trump Remarks Deepen Doubts Over Iran Ceasefire Deal