NEW YORK: Wall Street closed lower on Wednesday, as long-dated US Treasury yields resumed their climb, reviving fears about inflation and mounting debt the day after the S&P 500 and the Nasdaq hit record closing highs.
All three major US stock indexes were modestly lower, with the S&P 500 and the Dow snapping four-day winning streaks. The Nasdaq notched its first down day in six.
The small-cap Russell 2000 underperformed its larger cap counterparts, dropping 1.3%.
In the wake of Tuesday's stock market rally, Brent crude settled above US$100 per barrel and long-dated Treasury yields touched a 24-year high.
