The Financial Post reports in its Wednesday edition that United States stocks dropped Tuesday as rising bond yields and a morning spike in oil prices unsettled investors, leading them to cut back on riskier trades. A Bloomberg dispatch to the Post reports that investors shifted away from growth stocks as yields on 30-year U.S. Treasuries reached their highest level since 2007 due to concerns over fiscal spending and bond issuance. Tensions in the Middle East remained high after President Donald Trump indicated he would not extend the memorandum of understanding with Iran. JPMorgan analysts say the market is reacting to "rising bond yields" that are a result of "a combination of energy prices, U.S.'s deteriorating fiscal situation," and elevated credit issuance. Growth stocks in particular tend to bear the brunt as rising yields dent the present value of their future cash flows, and on Tuesday, artificial intelligence-linked stocks led the sell-off. Miller Tabak + Co. analyst Matt Maley says the renewed weakness in tech stocks is a function of the rise in long-term interest rates. He says, "If history is any guide, it's only a matter of time before this rise creates some meaningful headwinds for the equity markets."