Stock Market Tumbles Amid Rising Yields and Oil Prices

The stock market experienced a downturn on its first day in September, with the Nasdaq Composite falling 0.56%, the Dow slipping 0.39%, and the S&P 500 dropping 0.35%.

The 10-year Treasury yield reached about 4.8%, its highest level since January 2025, as oil prices continued to rise for a fifth straight session.

This surge in yields and oil prices weighed heavily on the market, despite Apple's strong performance under new CEO John Ternus, who took over from Tim Cook.

The tech sector struggled overall, with software giants Microsoft and Alphabet both falling more than 1%.