Tech stocks lead declines as rising bond yields and $90 oil revive inflation and borrowing cost concerns.
U.S. equities opened lower as Treasury yields and oil prices extended gains. The Nasdaq Composite fell 1%, outpacing declines of 0.2% in the Dow Jones Industrial Average and 0.5% in the S&P 500.
Technology shares underperformed, with chipmakers Nvidia and Intel dropping 2% and 5%, respectively. Energy stocks bucked the trend, supported by oil prices surpassing $90 a barrel.
The sell-off reflects renewed worries over higher borrowing costs and persistent inflation pressures.