S&P 500 futures fell on Tuesday, pressured by a rise in Treasury yields amid concerns of persistent inflation and elevated oil prices. A pullback in semiconductor stocks also weighed on the broader market. Contracts tied to the broad market index fell 0.4%, while Nasdaq-100 futures were down 1.1%. Western Digital fell more than 5%, weighing on Nasdaq futures. Sandisk dropped more than 4%. Marvell Technology and Seagate Technology were both down by more than 5%. Dow Jones Industrial Average futures traded just 48 points lower, or 0.1%, with losses kept in check in part because of a 1% advance in Home Depot shares after the home improvement giant posted a second-quarter earnings beat. “Because of the strength of the AI trade, stocks haven’t cared about the persistent rise in global bond yields, but it’s just a matter of when, not if, if this trend in rates continues, which I think it will as a bear on long duration,” said Peter Boockvar, chief investment officer at One Point BFG Wealth Partners. Treasury yields rose on Tuesday, with long-dated fixed income hitting their highest level in almost two decades amid a worsening U.S. fiscal situation and persistently higher inflation. The yield on the U.S. 30-year Treasury bond added more than 1 basis point to trade at 5.323%. It hit a new 19-year high and is nearing its highest level since 2002. The 10-year Treasury note yield—the main benchmark for mortgages, auto loans, and credit card debt—was less than 1 basis point higher at 4.732%. The yield on the 2-year Treasury note, which typically reacts in line with short-term Federal Reserve interest rate decisions, edged up less than a basis point to 4.186%. Asia-Pacific markets ended in the red. South Korea’s Kospi fell 1.55%. Japan’s Nikkei 225 dropped 2.54%. Australia’s benchmark S&P/ASX 200 closed flat. Mainland China’s CSI 300 declined 0.32%, while Hong Kong’s Hang Seng Index was little changed. Oil prices rose for a third session on Tuesday as prospects receded for a deal to end the Middle East ​war, with Iran saying it ​would adopt a more offensive ​stance and the U.S. ruling out extending a ceasefire deal, heightening worries about prolonged energy supply disruptions. Brent crude futures climbed 25 cents to $91.12 a barrel. U.S. West Texas Intermediate crude futures were up 61 ⁠cents at $85.11 a barrel. Both contracts were on course for ⁠their third straight day of gains, with Brent touching its highest since July 30 during the session and WTI since July 31. “Sentiment remained supported by US President Donald Trump’s decision not to extend the US-Iran peace agreement and continued security concerns in the Strait of ‌Hormuz,” ING analysts wrote in a note. Gold prices slipped ​on Tuesday after two days of gains as ​oil prices jumped on prospects for a protracted Middle East crisis, fanning inflation and driving a rally in U.S. Treasury yields. Spot gold eased 0.5% to $4,391.77 an ounce, while U.S. gold futures for December delivery dropped 0.6% ⁠to $4,447.30 an ounce. “Gold is correcting on a combination of traditional headwinds coupled with some profit-taking after strong gains,” said independent analyst Ross Norman. A lengthy Middle East crisis would feed into the possibility of higher inflation and, by ‌extension, a firmer dollar and Treasury yields, Norman said.