US stocks fall as oil prices and Treasury yields pressure markets
US stocks fell Monday as rising oil prices and Treasury yields pressured markets, with the Dow Jones Industrial Average dropping 343.78 points, or 0.66%, to 51,484.84. The S&P 500 declined 0.76% and the Nasdaq Composite fell 0.91%. The 10-year Treasury yield climbed above 5.2% and the 30-year yield exceeded 5.5%, while oil prices remained elevated amid uncertainty over a potential US-Iran peace deal. Nvidia rose after announcing an additional $150 billion share buyback authorization, while other tech stocks like AMD, Micron, and Meta declined. Markets now price a 70.3% chance of a Federal Reserve rate hike in October, up from 57.6% a week earlier. Investors await key economic data this week, including the PCE inflation report, manufacturing figures, and September jobs data.