US Stocks Decline as Treasury Yields Increase

New York:US stocks closed lower on Wednesday, impacted by declines in Alphabet and Amazon shares amid rising US Treasury yields. According to Emirates News Agency, the S&P 500 fell 0.75% to 7,706.05, the Nasdaq Composite dropped 1.13% to 26,936.04, and the Dow Jones Industrial Average declined 0.68% to 51,511.59. The market was pressured after data showed a sharp increase in US business activity in September. This development pushed Treasury yields higher and reinforced expectations that the Federal Reserve might raise interest rates again. The two-year Treasury yield reached its highest level since 2024, while the 10-year yield climbed to its highest since 2007.