REUTERS
- Stocks fell Wednesday as escalating tensions in the Middle East pushed oil up.
- Treasury yields also pressure equities, with the 10-year touching a fresh 16-year high.
- Earning season continues, with Netflix and Tesla set to report after the closing bell.
US stocks tumbled Wednesday as oil prices jumped and Treasury yields swung up to highs not seen since 2007.
The Dow Jones Industrial Average fell more than 300 points, while the S&P 500 dropped about 1.3%. The tech-heavy Nasdaq tumbled 1.6%.
Tensions between Israel and Hamas were ratcheted up after a hospital in the Gaza Strip exploded, killing an estimated 500 Palestinians. With both parties throwing blame on the other, the event dims hopes that the conflict will soon de-escalate.