Dow closes 110 points lower as bond yields rise and semiconductor stocks slide

Dow closes 110 points lower as bond yields rise and semiconductor stocks slide

US stocks ended lower on Tuesday as rising sovereign bond yields and elevated oil prices increased concerns about persistent inflation and borrowing costs. The S&P 500 fell 0.69%, while the Nasdaq Composite declined 1.33%. The Dow Jones Industrial Average dropped 116 points, or 0.22%, to close at 53,343.85. The decline came as bond yields rose across major markets. The US 30-year Treasury yield reached its highest level since 2007, while Japan’s…