Wall Street falls for 3rd straight session

US stocks declined for a third consecutive session at Tuesday’s close, pressured by losses in the semiconductor sector and rising sovereign bond yields amid concerns over persistent inflation and higher oil prices.

At the close, the Dow Jones Industrial Average fell 0.22%, or 116 points, to 53,343.

The broader S&P 500 dropped 0.69%, or 53 points, to 7,691, marking its third straight negative session, while the Nasdaq Composite declined 1.33%, or 355 points, to 26,289.

In Europe, the STOXX Europe 600 fell 0.69% to 651 points.

The UK’s FTSE 100 was flat at 10,728 points, while Germany’s DAX declined 0.80% to 26,128 points and France’s CAC 40 fell 0.82% to 8,509 points.

In Japan, the Nikkei 225 dropped 2.55% to 67,460 points, while the broader TOPIX declined 1% to 4,140 points.

In oil markets, Brent crude futures for October delivery rose 0.17%, or 15 cents, to $91.02 a barrel.

US Nymex crude futures for September delivery gained 0.52%, or 44 cents, to $84.94 a barrel.

Gold futures for December delivery fell 1.18%, or $53.10, to $4,420.60 an ounce.

Rising bond yields weighed on Wall Street as concerns over persistent inflation mounted, while uncertainty deepened amid stalled negotiations between the US and Iran and fading hopes for an end to the conflict in the Middle East.