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Stock market today
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
U.S. stocks fell for a fourth straight day as Brent crude topped $104 a barrel and the 10-year Treasury yield jumped to 4.92%.
Rising oil and borrowing costs are squeezing markets ahead of next week's Fed decision.
Background
Oil prices kept surging amid the ongoing U.S.-Iran conflict, with Brent crude topping $100 a barrel, and the cost of long-term borrowing hit its highest level since January 2025. Wholesale inflation was stirred up again by the war and high oil prices. Markets are now pricing a high chance the Federal Reserve raises rates at its meeting next week.
How it unfolded
- Sep 8, 2026The Dow fell nearly 700 points, or 1.3%, after an attack on Saudi Arabia by Iran-backed Houthis; the S&P 500 dropped 0.4% and the Nasdaq 0.5%. WTI crude climbed nearly 2% to about $92.95 a barrel and Brent gained 1% to nearly $98.
- Sep 9, 2026The Dow dropped 400 points, or 0.8%, with the S&P 500 down 0.6% and the Nasdaq 0.9%. WTI advanced to around $96.35 a barrel and Brent climbed near $101.20; the 10-year Treasury yield rose near 4.85%.
- Sep 10, 2026All three major indexes were on track for a fourth day of losses: the Nasdaq fell 0.9%, the Dow 0.6% and the S&P 500 0.7%. WTI advanced to around $99.25 a barrel, Brent topped $104, and the 10-year Treasury yield jumped eight basis points to 4.92%.
- Sep 11, 2026Dow, S&P 500 and Nasdaq were set to climb after CPI data, with the 2-year yield jumping on rate hike expectations and oil easing after its surge; the chances of a Fed rate hike next week rose to 84%.
Who’s saying what
- Analysts
- Citi warned that a 0.4% rise in core CPI could be a bearish 'gamechanger' for markets.
- Analysts
- BNY said markets are bracing for $100 a barrel oil on a 'sustained basis'.
- Analysts
- Needham analysts see the new high-end iPhone 18 releases as inadequate to trigger replacement cycles, a risk to Apple's installed base.