Stocks are tumbling as oil prices surge and bond yields hit 24-year highs

Stocks fell on Thursday as oil prices surged and bond yields reached a 24-year high. The 10-year Treasury yield jumped, while Brent crude rose 5% to $105 per barrel amid fears of escalating US-Iran tensions. Dow futures dropped over 500 points, and the S&P 500 and Nasdaq were set to open nearly 1% lower, pulling back from recent record highs.

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