The Globe and Mail reports in its Wednesday edition that U.S. and Canadian stock indexes closed lower on Tuesday. A Reuters dispatch to The Globe says dampening sentiment were the benchmark U.S. 10-year Treasury yield climbing to its highest level in more than a year on mounting inflation concerns and investors remaining anxious about the lack of a peace agreement between the U.S. and Iran. The S&P 500 and the tech-heavy Nasdaq marked their third-straight day of declines. Brent crude futures remained above $110 (U.S.) a barrel as traders monitored the latest news about the Middle East war, which has all but closed the Strait of Hormuz, a crucial energy conduit. After announcing on Monday that he had held off on a planned military strike against Iran scheduled for Tuesday, U.S. President Donald Trump said that the U.S. may need to strike Iran again. The U.S. 10-year Treasury yield surged to 4.687 per cent. The S&P/TSX Composite Index ended down 0.3 per cent. Canada's Consumer Price Index increased at an annual rate of 2.8 per cent in April, up from 2.4 per cent in March, driven largely by a surge in gasoline prices after the Iran war pushed global oil prices sharply higher. Gold and copper prices declined.