Stocks kicked off September sharply lower, as renewed inflation concerns and elevated oil prices pushed Treasury yields higher, fueling worries about the Federal Reserve’s next policy move. The 10-year Treasury yield climbed to its highest level since January 2025, sending the Dow tumbled 419 points and the Nasdaq down 271 points.
The S&P 500 and small-cap Russell 2000 also finished firmly lower. All four major indexes are now mired in three-day losing streaks, while the Cboe Volatility Index (VIX) rose for the first time in four days.
Crude Climbs on Renewed Hostilities
Oil prices climbed after U.S. Central Command said American forces were striking targets linked to Iran’s Islamic Revolutionary Guard Corps. Front-month WTI crude jumped 5.5% to settle at $90.22 per barrel.
Meanwhile, gold slid to a two-week low as higher Treasury yields and a stronger U.S. dollar pressured the safe-haven asset. December gold futures fell 2.3% to finish around $4,377.40.
Comments
Log in or sign up to join the conversation.