US stock market opens lower as Treasury yields surge above 5.3% and oil prices climb

Higher Treasury yields raise borrowing costs and pressure equity valuations, particularly impacting growth and technology stocks. Elevated oil prices fuel inflation concerns, complicating the Federal Reserve's rate path decisions. The sharp reversal follows recent record closes for the S&P 500 and Nasdaq, creating a significant market correction narrative. Traders are monitoring Fed minutes from the September meeting for signals on future monetary policy, with the combination of rising yields and oil prices raising stagflation concerns among investors.