Stocks Slide Amid Rising Yields and Oil, Apple Defies Market Trend

The stock market took a hit on its first day of September due to rising yields and oil prices, with Apple being an exception.

The Dow Jones Industrial Average dropped by 0.39%, while the S&P 500 fell 0.35%. The Nasdaq Composite also declined by 0.56%.

This decline was largely driven by macroeconomic concerns, including a fifth consecutive increase in oil prices and a 10-year Treasury yield reaching its highest level since January 2025 at about 4.8%.

Apple's new CEO John Ternus took over on his first day, but the company's stock price still rose by 3%. The tech sector did not benefit from Apple's gain, with Microsoft and Alphabet both falling more than 1%.