US Stocks Plummet Amid Rate Hike Expectations and Soaring Oil Prices

US stock markets experienced a decline on September 7 and 8, 2026, due to expectations of a Federal Reserve rate hike following strong nonfarm payrolls data. The benchmark S&P 500 dropped 0.4% to close at 7,716.95 points.

The Dow Jones Industrial Average fell 0.5% to 53,413.60 points, while the Nasdaq Composite lost 0.3% to end at 26,506.99 points on September 7.

For the week, the S&P 500 edged up 0.1%, the Nasdaq increased by 0.4%, and the Dow slipped 0.3%. This mixed performance was reflected in a persistent bond selloff and rising oil costs.

The next day, the Dow Jones Index opened sharply lower by 0.86%, with losses led by Amgen at 7.30%, Salesforce at 4.46%, and Johnson & Johnson at 2.45%. However, Chevron gained 1.96%, Caterpillar rose 1.73%, and Nvidia increased by 0.19% in early trading.