U.S. stocks retreated from record highs as mounting worries over inflation took hold. Higher crude oil prices and surging Treasury yields fueled the selloff, hitting technology shares particularly hard.
The Dow Jones Industrial Average dropped about 500 points in the session. Investors grew concerned that rising energy costs and bond yields could signal persistent price pressures ahead.
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Wall Street markets closed higher on May 13, led by gains in the technology sector ahead of the US-China meeting.
Asian stocks fell alongside Wall Street after US inflation data showed faster price growth. Rising oil prices tied to conflict in Iran pushed Treasury yields higher and increased expectations for a Federal Reserve rate increase in 2027.
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Asian stocks fell in line with Wall Street losses driven by inflation worries.
Indian stock markets recorded their steepest single-day decline in nearly a month. The drop followed a worldwide selloff in technology shares and concerns over possible US interest rate moves.
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Asian markets fell on Monday as drone attacks in the Gulf drove up oil prices and bond yields. Investors are awaiting Nvidia's earnings report later this week for clues on the strength of the artificial intelligence sector. High energy costs are adding to global inflation worries.
Global financial markets reacted on Monday to renewed surges in oil prices and geopolitical tensions in the Middle East, continuing the economic ripple effects first seen after the Iran conflict and Hormuz blockade earlier this year.
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Asian stock markets declined in line with a global technology sell-off. Concerns have grown that the artificial intelligence rally may have overheated, leading investors to question elevated valuations.