US Stocks Fall as Yields Hit Multi-Decade Highs

2026-09-23 20:07 By Isabela Couto 1 min. read

US stock indices closed lower on Wednesday as strong economic data, a weak Treasury auction, and energy-driven inflation concerns pushed Treasury yields to multi-decade highs.

The S&P 500 fell 0.7%, the Dow shed 351 points, and the Nasdaq 100 retreated 0.8% from its record high.

Rising oil prices drove yields higher, stoking inflation concerns.

The yields rise intensified after S&P Global PMI data showed strong new orders and multi-year highs in input and output price inflation, raising expectations of another Fed rate hike this year.

The bond selloff accelerated after a five-year Treasury auction drew surprisingly weak demand.

Credit-sensitive AI hyperscalers, which are undergoing record levels of debt issuance, were mostly lower, with Alphabet down 3.8%, Oracle shedding 3.1%, and Amazon falling 2.2%.

Major banks also posted losses.

Chipmakers fell as investors took profits after this week’s rally, with Nvidia down 1.5%, Broadcom losing 2.6%, and Micron shedding 2.2%.



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