The major European indices are closing mixed with a German Dax the worst performer, while the UK's FTSE 100 is the best performer.A snapshot of the closing levels shows: Frances -0.79% German DAX, -1.09%UK's FTSE 100, +0.29%Spain's Ibex, -0.34%Italy's FTSE MIB, +0.1%As European traders head for the exits, markets remain focused on rising oil prices, higher long-term yields and geopolitical tensions surrounding Iran.Treasury Secretary Scott Bessent, speaking at the G20 summit, said Iran is taking U.S. sanctions seriously and is “lashing out kinetically” because it is losing economically. He added that the U.S. will continue to exert pressure, but Iran’s economy does not need to collapse—it simply needs to “come to its senses.”On the domestic economy, Bessent said real wages are growing and that the only way for the U.S. to get out of debt is to grow its way out. That sounds like the administration is relying heavily on economic growth to address the deficit, rather than spending cuts or lower interest rates. The risk is that higher oil prices and elevated inflation make that growth path more difficult.European 10-year yields moved higher across the board:Germany: 3.327%, up 3.5 basis pointsFrance: 4.179%, up 4.0 basis pointsUK: 5.078%, up 3.7 basis pointsSpain: 3.783%, up 4.5 basis pointsItaly: 4.169%, up 6.1 basis pointsSwitzerland: 0.426%, up 3.1 basis pointsIn the U.S. debt market, the yield curve is steepening. Shorter-term yields are modestly lower, while longer-term yields continue to move higher:2-year: 4.3416%, down 0.8 basis points5-year: 4.5019%, up 2.0 basis points10-year: 4.7600%, up 3.8 basis points30-year: 5.2624%, up 5.4 basis pointsU.S. stocks are trading lower, although the major indices are off their lowest levels:Dow industrial average: down 343.01 points, or -0.64%, at 53,222.33S&P index: down 36.84 points, or -0.48%, at 7,674.91NASDAQ composite: down 110.95 points, or -0.42%, at 26,291.47Russell 2000: down 24.06 points, or -0.81%, at 2,948.31In other markets:WTI crude oil: up $2.14, or 2.56%, at $85.59Gold: down $25.26, or -0.57%, at $4,428.41Silver: down $0.18, or -0.27%, at $66.15Bitcoin: near unchanged at $78600The sharp rise in oil remains a key concern for inflation and growth. Meanwhile, the move higher in long-term yields is creating another headwind for equities, particularly as markets continue to digest Fed Chair Kevin Warsh’s more hawkish comments from Friday. This article was written by Greg Michalowski at investinglive.com.