The U.S. stock market closed lower on Tuesday, with the S&P 500, Nasdaq Composite, and Dow Jones all posting their third consecutive losing session. The S&P 500 fell 0.67% to 7,353.61, the Nasdaq Composite declined 0.84% to 25,870.71, and the Dow Jones dropped 0.65% to 49,363.88. The broad-based selloff was driven by rising bond yields, which continued to pressure equities. The 10-year Treasury yield reached its highest level in 16 months, hitting 4.50%, while the 30-year Treasury yield reached a multi-decade high of 4.75%. The yield increases were attributed to concerns over inflation and the Federal Reserve's tightening monetary policy. Despite the selloff, the indices were able to recover from their session lows, indicating some level of investor resilience.

The headlines highlighted several key themes. Rising bond yields were a significant macro driver, with the selloff in bonds deepening on inflation fears. The tech sector saw some volatility, with Micron falling as memory concerns tested the AI rally. Additionally, there were mixed signals from earnings reports, with Home Depot's earnings in focus. The overall tone was one of caution, with investors navigating a complex landscape of rising rates, inflation concerns, and geopolitical uncertainties. The market's ability to close lower for three consecutive sessions underscores the challenges facing equities in the current environment.