US stocks today: Nasdaq crashes over 1% as bond selloff, oil rise fuel inflation anxiety

Rising oil prices are raising inflation fears and pushing bond yields higher, weighing down stocks on Wall Street.

The S&P 500 fell 0.7% Tuesday. The Dow Jones Industrial Average fell 299 points, or 0.6%, as of 9:33 a.m. Eastern time. The Nasdaq composite fell 1.4%.

Much of the pressure being felt by Wall Street is coming from a sell-off in U.S government bonds. The yield on the 10-year Treasury rose. Oil prices continued climbing, putting more pressure on inflation.