U.S. stocks extended losses by midday Tuesday as a fresh Treasury rout pushed long-dated yields to multi-decade highs and a crowded chipmaker trade unwound, with investors growing impatient over the unresolved U.S.–Iran standoff that has kept oil prices elevated and inflation expectations sticky.
• State Street Health Care Select Sector SPDR ETF shares are advancing steadily. Why is XLV stock advancing?
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President Donald Trump told reporters Tuesday morning that a decision on Iran was still days away, saying “we’re not leaving Iran yet, we’re going to do it right” and that the timeline could stretch “two to three days, maybe until early next week.”
The open-ended timeline kept a bid under oil while feeding into a brutal long-end Treasury sell-off.
