Wall Street closed lower as rising U.S. Treasury yields and persistent inflation fears pressured equities, with the Nasdaq leading losses. Elevated oil prices amid Iran tensions and uncertainty over Federal Reserve policy weighed on sentiment, while investors stayed cautious ahead of Nvidia earnings, seen as critical for sustaining AI-driven market momentum.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend