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Tech slumps drag Dow S&P 500 and Nasdaq lower as yields and oil jump after Trump Xi letdown
Economy
Published on 15 May 2026
30-year Treasury yield cracks 5.1% as stocks wobble
Wall Street reversed its recent momentum on Friday, pushing the S&P 500, Nasdaq, and Dow Jones lower as investors retreated from a stretched technology rally. The sell-off gathered pace alongside rising Treasury yields, with the 30-year yield moving above 5.1% amid inflation worries. Oil surged after Trump’s comments on Iran, lifting West Texas and Brent above key thresholds. Market hopes were also dampened by a Trump-Xi summit that delivered fewer breakthroughs than traders expected.
- S&P 500 fell 1.24% to close at 7,408.50
- Nasdaq Composite dropped 1.54% to 26,225.14
- Dow Jones fell 537 points to end at 49,526.17
- Intel fell over 6%, while Nvidia slipped 4.4%
- 30-year Treasury yield rose above 5.1% on inflation concerns
- WTI settled above $105 and Brent above $109 on Iran remarks
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times