Stocks close lower as oil and yields keep pressure on risk assets
US equities finished the session lower, with the S&P 500 ETF at 765.33, the Nasdaq 100 ETF at 736.47, the VIX at 16.06, the US 10-year yield at 5.24 and WTI crude at 92.96 as oil, rates and Iran headlines drove the tape.
Nasdaq 100 ETF -1.0706%Higher oil prices and Treasury yields
S&P 500 ETF -0.7804%Risk assets weakened into the close
VIX +8.0027%Volatility rose with the equity selloff
US 10-year yield +1.0802%Bond pressure stayed elevated
Lead: US stocks finished lower as oil, yields and geopolitics kept pressure on risk. Session narrative: The S&P 500 ETF fell 0.7804%, the Nasdaq 100 ETF lost 1.0706% and the Russell 2000 ETF slipped 0.6562%. The VIX rose 8.0027% to 16.06, while S&P futures and Nasdaq futures also ended weaker. Cross-asset check: The US 10-year yield held at 5.24, long-duration Treasuries fell, the dollar index was firmer, dollar-yen edged higher, and WTI crude rose to 92.96. Gold, silver, copper and natural gas all closed lower. Themes & continuing stories: Iran and Strait of Hormuz headlines kept energy, inflation and rate expectations in focus. What’s ahead: This week brings the PCE inflation report and jobs report, with oil and geopolitics still central to the next session setup.