US Stock Market Plunges as Oil Prices Surge and Bond Yields Rise

The US stock market saw a decline on September, as oil prices surged and global bond yields increased. The Dow Jones fell by 0.20%, while the S&P 500 slipped by 0.50% and the Nasdaq was down by 0.88%. The technology sector experienced significant losses, with Qualcomm losing 4.55% and Charter Communications falling by 3.90%.

Renewed tensions in the Middle East and rising oil prices have increased geopolitical risk, leading to higher inflation concerns. The Federal Reserve's next policy decision is also being closely watched as investors fear that persistently high energy costs could hinder any efforts to loosen monetary conditions.

The US 10-year Treasury yield has hit a 20-month peak at 4.788%, making stocks less attractive, especially for growth technology shares. Nvidia, AMD and Micron fell by around 2% as the tech sector struggled.