Nasdaq today slides as oil and Treasury yields climb
Nasdaq today is lower after U.S. stocks fell Monday, with the Nasdaq Composite down about 1.3% as oil prices and Treasury yields jumped to start the week. Brent crude rose more than 2% after President Trump rejected Iran's ceasefire conditions, while the 10-year yield traded above 5.2%.
Key Takeaways
- The Dow fell roughly 394 points, or 0.8%, while the S&P 500 slid about 1% and the Nasdaq Composite dropped about 1.3%.
- Brent crude traded more than 2% higher near $106.79 a barrel as West Texas Intermediate rose around 2% to about $94.40.
- The 10-year Treasury yield traded above 5.2% and the 30-year topped 5.5%, around multiyear highs.
- AI-linked shares led losses, though Nvidia rose after announcing an additional $150 billion share buyback.
- Markets await Wednesday's PCE inflation report, Thursday manufacturing data, and Friday's September jobs figures.
The downturn follows a winning week for tech and tech-linked names. For more fast-moving headlines, see Celebrity Breaking News on BlasterPost.
Why did U.S. stocks fall to start the week?
Higher energy costs and rising borrowing costs hit risk appetite as the new week began. CNBC reported stocks fell Monday after oil prices and Treasury yields jumped.
President Donald Trump rejected conditions for a ceasefire presented by Iran, cooling hopes tied to reopening the Strait of Hormuz. That shift helped push crude higher and reinforced inflation and rate worries across markets.
Ed Yardeni, president of Yardeni Research, wrote that the rapid rise in two-year government yields worldwide signals major central banks may need to raise policy rates further because higher-for-longer oil prices from Middle East re-escalation are inflationary.
How is nasdaq today handling the AI stock selloff?
Nasdaq today reflected a broad retreat in AI-related names after last week's rally. Advanced Micro Devices traded down about 5% and Micron Technology about 4%. Meta Platforms shed nearly 4%, Microsoft dipped about 2%, and Amazon edged down about 1%.
Nvidia bucked the trend, popping about 2% after saying it plans to buy back an additional $150 billion of shares, bringing its repurchase program to $235 billion. Last week Meta had rallied nearly 13% on its Muse AI agent, while Microsoft climbed more than 4%.
What should investors watch next for nasdaq today?
Rates remain central. The 10-year Treasury yield reached a level not seen since 2007, and the 30-year bond yield hit a high dating to 2004, according to CNBC. Traders have increased bets on more Federal Reserve rate hikes amid persistent inflation.
Mohamed El-Erian, chief economic advisor at Allianz, said yields may stay elevated even if the Iran conflict settles and oil eases, pointing to an imbalance between longer-term bond supply and demand.
This week's calendar includes the August personal consumption expenditures price index on Wednesday, U.S. manufacturing numbers on Thursday, and the closely watched September jobs report on Friday—releases that could reshape the path for nasdaq today and the broader market.