US Stocks Extend Decline
2026-09-24 13:32
By
Andre Joaquim
1 min. read
US stocks fell further on Thursday as higher Treasury yields reflected an increasingly adverse macroeconomic backdrop.
The S&P 500 fell 0.5%, while those for the Nasdaq 100 dropped almost 1% and those for the Dow eased 0.3%.
Treasury notes and bonds of all maturities held their plunge from the previous session as PMI data showed an accelerating economy and soaring prices, raising the outlook for interest rates by the Fed.
This coincided with dimmed expectations of diplomatic breakthroughs between Iran, the US, and GCC countries, prolonging the blockade on oil exports from the region.
The risk of tight financial conditions continued to pressure AI hyperscalers and chip producers as the sector was due to extend its record-setting debt issuance momentum, with Nvidia, Marvell, Intel, Amazon, and Alphabet dropping between 1% and 3%.
Meanwhile, Meta dropped 2% to trim this week's rally as markets assessed the prospects of returns on its new AI agent tools.