Wall Street finished the first session of the holiday-shortened week lower, with the 10-year Treasury climbing above 4% and midday losses accelerating after Federal Reserve Governor Christopher Waller implied there will be 'no rushing' to ease the central bank's monetary policy. The Dow shed 231 points for its worst single-session drop in nearly two weeks, while the Nasdaq and S&P 500 also closed firmly in the red, the latter snapping a six-day win streak. Elsewhere, the Cboe Volatility Index (VIX) logged its third-straight win.

COMMODITY PRICES PRESSURED BY STRENGTHENED GREENBACK

Oil futures were pressured on Tuesday by a strengthening U.S. dollar. However, ongoing tensions in the Middle East kept losses in check, with disrupted tanker traffic threatening oil supplies. For the session, West Texas Intermediate (WTI) crude for the February contract lost 28 cents, or 0.4%, to finish at $72.40 per barrel.

Rising bond yields and a higher U.S. dollar also took their toll on gold futures, with February-dated gold shedding $21.40, or 1%, to close at $2,030.20 per ounce, and added 0.9% this week. 

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