U.S. equity futures fell on Wednesday, a day after the S&P 500 reached a fresh all-time high, as oil prices moved higher alongside Treasury yields.

Futures tied to the Dow Jones Industrial Average were down 403 points, or 0.8%, while S&P 500 futures shed 0.5%. Nasdaq-100 futures slipped 0.8%.

U.S. crude prices crept back toward $90 per barrel. International Brent crude futures, meanwhile, traded nearly 1% higher at around $101 per barrel. Those moves led yields, which took a breather in the previous session, to resume the recent surge that drove them to multiyear highs.

The benchmark 10-year Treasury
 note yield climbed more than 6 basis points to trade at 5.337%. The 30-year bond yield gained more than 7 basis points to 5.716%.

The moves come ahead of a planned auction by the Treasury Wednesday, in which it’s planning to sell $39 billion of 10-year notes.

The S&P 500 closed above 7,800 for the first time on Tuesday, led by gains in chipmakers. Bond yields also eased, giving equities a boost.

Investors are awaiting the minutes of the Federal Reserve’s last meeting in September, at which the U.S. central bank raised interest rates for the first time since 2023. Minutes are set to shed light on how monetary policymakers are thinking about economic conditions.

Across the Atlantic, the pan-European Stoxx 600 fell 0.8%, as the continent’s main regional indexes moved lower. The U.K.’s FTSE 100 dropped 0.7%, France’s CAC 40 shed 1%, and the German DAX fell 1.3%. The Italian FTSE MIB
 was 1.9% lower.

In Asia, Japan’s Nikkei 225 closed 0.92% lower as the broader Topix fell 0.7%. South Korea’s Kospi declined nearly 2%, while the small-cap Kosdaq lost 2.34%. Australia’s benchmark S&P/ASX 200 ended flat. The mainland China market remained closed for the Golden Week holiday.