Stocks fall, oil retreats as Middle East talks raise hopes

Global stock indexes fell on Monday, September 28, 2026, while oil prices edged higher and Treasury yields extended recent gains, driven by expectations of more Federal Reserve interest-rate hikes in coming months. The Nasdaq led Wall Street's decline, though Nvidia rose 1.7% after boosting its share buyback authorization by a record $150 billion. Oil gave back earlier gains as Qatari mediators prepared talks with the US and Iran, with US crude settling at $92.60 a barrel. Markets imply a roughly 70% chance the Fed will hike rates again in October. Thirty-year Treasury yields hit their highest levels since May 2004, while 10-year yields reached their highest since June 2007. The rising cost of capital is emerging as a key risk to AI-linked companies, whose heavy borrowing has powered stock markets.