US stocks: US market ends lower, off record highs, as Treasury yields climb

What happened: All three major US stock indexes closed modestly lower, with the S&P 500 and Dow set to snap four-day winning streaks and the Nasdaq heading for its first down day in six. The small-cap Russell 2000 underperformed. Key numbers: S&P 500 fell 17.78 points, or 0.23%, to 7,801.15. Why it matters: Rising oil prices from Iran war-related supply concerns revived inflation worries and raised the chances of a prolonged rate hiking cycle, triggering a global bond selloff. Investors are watching whether AI spending is paying off and the health of the US consumer.

Treasury yields climb, pulling US stocks lower off record highs.

Treasury yields climb, pulling US stocks lower off record highs. — impact context not separately stored; see What changed.