U.S. Stocks Decline as Brent Crude Approaches $100

U.S. stocks declined as Brent crude oil prices approached $100 per barrel following Houthi attacks on Saudi oil operations, according to Gary Black.

The managing partner and investor at The Future Fund noted that these disruptions led to the drop in U.S. stocks.

The 10-year yield increased to 4.81 percent, chip stocks traded mixed-to-higher, and a strong August jobs report lifted the likelihood of a Federal Reserve rate hike to approximately 60 percent next week.