S&P 500, Dow Jones, NASDAQ end lower as tech stocks retreat, oil prices surge and yields climb

Wall Street ended in negative territory on Tuesday due to sovereign bond yields hitting multidecade highs and rising oil prices. Chip stocks also faltered, which rattled markets.

The S&P 500 settled 0.69% lower at 7,691.76, while the Dow Jones Industrial Average fell 0.22% to 53,343.40. The tech-heavy Nasdaq composite slipped 1.33% to 26,289.71.

SanDisk Corporation shares descended 9.01% to $1,625.76, while Nvidia declined 2.34% to $219.74. Western Digital, Marvell Technology and Seagate Technology were also down 7.43%, 7.82%, and 9.16%, respectively.

The US 30-year yield recorded a 19-year high, while Germany's 30-year government bond yield reached its highest level since 2011. Japan's 10-year bold yield scored its highest level in three decades.

Brent Crude, the international standard, rose 1.01% to $91.94 per barrel. West Texas Intermediate advanced 1.14% to $85.91 a barrel.

The tensions remained high in the Middle East as US President Donald Trump said that no talks are being held between Washington and Tehran. He also claimed that the Strait of Hormuz was "open and operating."

"There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran. The naval blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated. Thank you for your attention to this matter!" he said.

On Monday, Trump had threatened to "bomb" Iran if it interferes with the US' efforts to negotiate with Iran.

He also stated that Iran could not have nuclear weapons. "The number one goal is, and always will be, that Iran cannot have, in any way, shape, or form, a nuclear weapon."

Stocks that rose in the weak market include Johnson & Johnson, Salesforce, Nike, The Coca Cola Company, Visa, Apple, Walmart, Thomson Reuters Corp, Netflix, Airbnb, Adobe and Eli Lilly and Company, among others.