Dow Jones Drops 400 Points as Oil Hits $108

The Dow Jones Industrial Average fell 400 points on Wednesday. Oil prices rose to $108 per barrel, adding pressure to financial markets. The 10-year Treasury yield stayed near 5%, a level not seen in years. When Treasury yields rise, borrowing costs increase for businesses and consumers. Higher oil prices and elevated bond yields together weighed on investor confidence. Energy sector moves drove much of the selling. Markets remain sensitive to both energy costs and interest rates. Investors are watching for signals on whether these pressures will ease.