U.S. stock indexes declined at the start of trading on Tuesday the first session of September in conjunction with the rise in Treasury yields and concerns over tariffs.

The yield on 10-year U.S. Treasury notes rose by 5.5 basis points to 4.281%, while the yield on 30-year bonds increased by 4.6 basis points to 4.964%.

This comes after a federal appeals court ruled on Friday that most of the tariffs imposed by President Donald Trump were illegal, which caused further uncertainty regarding U.S. policy decisions.

By 16:14 GMT, the Dow Jones Industrial Average fell by 1% (equivalent to 431 points) to 45,113 points, the SP 500 Index dropped by 1.2% (equivalent to 79 points) to 6,380 points, while the Nasdaq Composite Index declined by 1.5% (equivalent to 320 points) to 21,135 points.