U.S. stock markets are experiencing a downturn as the Dow Jones, S&P 500, and Nasdaq indices slip under the pressure of climbing Treasury yields, which have exceeded 4%. Investors are reevaluating rate cut expectations, especially following comments from Fed Chair Jerome Powell, which have heightened concerns about potential policy mistakes. Additionally, rising oil prices and increasing geopolitical risks, exemplified by recent tensions in the Middle East, are further contributing to market uncertainty. As traders anticipate key economic data and earnings reports from major banks, the overall sentiment remains cautious with stocks continuing to face downward pressure.