US Stocks Drop As Rising Dollar, Treasury Yields, Oil Prices Weigh On Sentiment: What’s Driving Markets Wednesday?

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Wednesday is a risk-off session for the U.S. stock market as investors express concern in response to the mounting pressures posed by escalating oil prices and increasing U.S. Treasury yields. WTI-graded crude rose to over $86 a barrel, while the rate-sensitive two-year Treasury yields showcased an impressive 15-basis-point increase in a day, surging over 5%. The ISM Services PMI surprisingly soared to a six-month high in August, beating expectations, while another service gauge measured by S&P Global showed a dismal picture. The U.S. dollar also increased further, with the U.S. dollar index r…

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