Oil is increasingly calling the tune in global markets as rising energy prices make investors nervous.

Wall Street's main indexes edged lower on Tuesday, dragged down by higher crude prices, elevated Treasury yields and an uncertain outlook for AI demand that kept investors at bay.

Artificial-intelligence stocks are sliding worldwide Monday after leaders of the industry warned a slowdown is needed for safety. Another jump in oil prices, meanwhile, sent the bond market to its latest pressure-raising milestone as the yield on the 10-year Treasury hit 5% for the first time since 2023.