Wall Street falls for third straight session as oil prices rise

US stocks fell for the third consecutive session at the close of Wednesday’s trading, as rising Treasury yields and oil prices continued to weigh on investor sentiment amid uncertainty over the outlook for the conflict in the Middle East.

At the close, the Dow Jones Industrial Average fell 0.77%, or 405 points, to 52,380.

The broader S&P 500 dropped 0.48%, or 37 points, to 7,636 points, marking its third consecutive losing session. The Nasdaq Composite also declined 0.64%, or 168 points, to 26,253 points.

In Europe, the STOXX Europe 600 decreased 1.41% to 640 points.

The FTSE 100 lost 1.31% to 10,670 points, while Germany's DAX shed 1.66% to 25,576. France's CAC 40 fell 1.94% to 8,156.

In Japan, the Nikkei 225 inched down 0.19% to 65,142 points, while the broader TOPIX lost 0.10% to 4,046.

In oil markets, Brent crude futures for November delivery rose 3.36%, or $3.29, to $101.21 a barrel.

US WTI crude futures for October delivery gained 3.25%, or $3.02, to $96.05 a barrel.

Gold futures for December delivery added 0.44%, or $19.80, to $4,458.8 an ounce.

Market Drivers

Pressure on equities intensified as Treasury yields rose after the government’s debt buyback plan fell short of some investors’ expectations, coinciding with a surge in oil prices above $100 per barrel.