S&P 500 Falls 0.48% as Brent Crude Tops $101 and 10-Year Treasury Yield Hits 4.84%

U.S. equity markets closed lower Wednesday as surging crude oil prices and rising Treasury yields combined to pressure stocks across all major indexes. Brent crude topped $101 per barrel, driven by escalating U.S.-Iran tensions, while the 10-year Treasury yield jumped to 4.84%, fanning fears of renewed inflation.

The S&P 500 closed down 0.48%, the Dow Jones Industrial Average fell 0.77%, and the Nasdaq 100 declined 0.29%. E-mini S&P futures dropped 0.46% and September E-mini Nasdaq futures also fell. The session extended the market's existing losing streak.

Adding further pressure to bond markets, Treasury Secretary Bessent tripled the size of a buyback program, a move that worsened the selloff in government debt. Investors are now focused on key upcoming inflation data as the next major catalyst, with oil above $100 and elevated yields raising the stakes for any upside surprise.