US Stocks Start September on a Weak Note Amid Higher Oil Prices and Bond Yields

The US stock market started September on a weak note, with all three major indexes falling due to higher oil prices, rising bond yields, and concerns about possible interest rate changes by the Federal Reserve.

The Dow Jones Industrial Average fell 301 points, or 0.6%, while the S&P 500 dropped 0.7% and the Nasdaq Composite fell 1.1%. The decline was led by technology stocks, which often rely on borrowing money to grow, making them vulnerable to higher interest rates.

Nvidia, Advanced Micro Devices, and Micron Technology each dropped around 2%, while Microsoft and Google-parent Alphabet fell more than 1%.

The sell-off came as US and global bond yields moved higher, with the 10-year US Treasury yield climbing to 4.788%, its highest level since January 2025. Japan's shorter-term bond yields also hit multi-year highs, while UK government bond yields surged.