US Stocks Fall for 3rd Day as 10-Year Yield Hits 4.83% and Brent Tops $101
Updated
Updated · Yahoo Finance · Sep 9
US Stocks Fall for 3rd Day as 10-Year Yield Hits 4.83% and Brent Tops $101
3 articles · Updated · Yahoo Finance · Sep 9
Summary
The Dow fell about 0.8%, the S&P 500 lost 0.5%, and the Nasdaq dropped 0.6%, extending a three-day US stock slide on Wednesday.
The 10-year Treasury yield rose 3 basis points to 4.83%—its highest since October 2023—after Treasury Secretary Scott Bessent said the Treasury would triple its next bond buyback program.
Brent crude traded at $101 a barrel and WTI reached $96 after US-Iran fighting escalated and the US struck five Iranian oil tankers, reviving fears of prolonged Strait of Hormuz supply disruption.
That oil surge fed inflation and rate worries, with traders pricing a 60% chance of a 25-basis-point Federal Reserve hike next week, slightly above a day earlier.