US stocks retreated from recent records as investors confronted another rise in government bond yields and renewed pressure from oil prices.
The Dow Jones Industrial Average dropped by more than 400 points during Wednesday trading, while the S&P 500 and Nasdaq also moved lower.
Reuters reported that the yield on the 30 year US Treasury climbed to its highest level since 2002, increasing pressure on stocks and borrowing costs.
Higher Treasury yields can make mortgages, corporate borrowing and other forms of credit more expensive. They can also make bonds more attractive compared with stocks.
Oil added another layer of uncertainty, with Brent crude trading above $100 a barrel amid concerns about global supplies.
Investors are now studying Federal Reserve signals for clues about whether interest rates could rise again before the end of 2026.
The combination of expensive energy and elevated borrowing costs could become one of the biggest challenges for markets heading into the final months of the year.
