Stocks tumble as Treasury yields spike and Iran fears shake markets

Wall Street’s rally hit a wall Friday as investors dumped stocks amid a sharp jump in Treasury yields, another surge in oil prices and ongoing fears about the Iran war.The Dow Jones Industrial Average fell over 500 points in afternoon trading, while the S&P 500 slid more than 1% and the Nasdaq Composite dropped about 1.5% as traders fled high-growth tech names that had powered the market’s record-setting run in recent weeks.The selloff gathered steam after the 30-year Treasury yield shot above 5.1%, approaching levels not seen in nearly two decades and rattling investors already on edge over inflation and geopolitical turmoil.Oil prices climbed after President Trump warned he was running out of patience with Iran, fueling concerns that tensions in the Middle East could worsen and further disrupt the Strait of Hormuz — one of the world’s most critical shipping lanes for crude.West Texas Intermediate crude rose above $105 a barrel while Brent crude traded north of $108.“There are several factors weighing on the market today, and people may be worried about holding positions over the weekend,” Derek Reisfield, co-founder and original chairman of MarketWatch, told The Post.“One is it seems any US action on Iran may have been on hold until President Trump’s China summit was over,” he added.“So traders have to wonder if the US starts bombing again.”Investors had hoped Trump’s meetings with Chinese President Xi Jinping would produce some progress toward reopening the Strait of Hormuz or cooling tensions tied to the regional conflict, Reisfield said.Instead, markets were left confronting the prospect of prolonged energy disruptions just as inflation pressures were already heating back up.“With the Strait of Hormuz closed, there is a cut off of oil, gas and other critical economic inputs that will factor into higher prices throughout the economy,” Reisfield said.The spike in borrowing costs added to the pressure.The 10-year Treasury yield clim...