Nasdaq slides as oil nears $96 and Treasury yields rise, pressuring tech stocks and market sentiment.

The Nasdaq Composite fell 1% amid rising oil prices nearing $96 per barrel and climbing U.S. Treasury yields, with the 10-year yield approaching 4.5%. Strong economic data, including robust private hiring and a steady services sector, pushed yields higher, challenging expectations for rate cuts. Technology and quantum computing stocks led the sell-off as investors took profits, while energy stocks gained due to higher oil prices. The market now faces pressure from inflation concerns and higher borrowing costs, with key Nasdaq levels indicating potential further downside if selling intensifies.