US Stocks Plummet as Oil Prices Surge Amid Geopolitical Tensions

The US stock market opened September on a bearish note as crude oil prices surged and Treasury yields rose, exacerbating inflation fears and geopolitical tensions.

The Dow Jones Industrial Average Index fell 0.35%, while the S&P 500 declined 0.36% and the Nasdaq Composite dropped 0.53%. Technology stocks were among the biggest losers, with Nvidia, AMD, and Micron falling around 2% each.

Higher oil prices are causing concerns about inflation persistence, limiting the Federal Reserve's flexibility to reduce interest rates. The US 10-year Treasury yield rose to a 19-month high of 4.770%, making bonds more attractive than stocks and increasing borrowing costs for firms.