Market Indexes Fall Again as the 30-Year Yield Hits a 2004 High

U.S. equity indexes fell for a second straight session as the 30-year Treasury yield climbed to its highest level since 2004. The S&P 500 dropped 0.5%, the Dow declined 0.6%, and the Nasdaq fell 0.8%. Rising bond yields and elevated oil prices pressured risk assets across the board.

ORCL faced setbacks as power supply constraints delayed its data center expansion plans, adding to sector headwinds. META bucked the broader selloff, gaining ground on renewed optimism around its artificial intelligence initiatives.

Geopolitical developments added volatility. The U.S. and China agreed to extend their trade truce by two months, falling short of the three-year extension Beijing had requested. The limited extension kept uncertainty elevated and contributed to the risk-off tone in equities.

Oil prices advanced on renewed supply concerns tied to geopolitical tensions, compounding inflation worries already reflected in elevated Treasury yields. The combination of higher borrowing costs and energy prices weighed particularly on rate-sensitive growth names.