US Markets Fall as Oil Surges Past $100 and Yields Hit Multi-Year Highs

U.S. equity markets fell sharply last week, driven by a surge in crude oil prices and rising Treasury yields that squeezed corporate margins and investor valuations. The Dow Jones Industrial Average closed at 51,992.83 on Thursday, September 10, down 387.83 points, or 0.74 percent, while the S&P 500 fell 0.61 percent and the Nasdaq Composite dropped 0.65 percent. For the full week, the Dow declined 1.57 percent, with the S&P 500 and Nasdaq down 0.8 percent and 0.66 percent, respectively. The immediate catalyst was a sharp jump in oil prices. West Texas Intermediate crude surged 4.4 percent to $100.27 per barrel on Thursday, while Brent crude advanced 4 percent to $105.24. By Friday, WTI had risen further to $102.04 and Brent to $107.26. The move pushed oil above the $100 threshold for the first time in months, reviving concerns about persistent inflation and its impact on consumer spending and corporate costs. Simultaneously, Treasury yields climbed to multi-year highs. The 10-year yield reached 4.95 percent on Thursday, its highest level since late 2023, before easing slightly to 4.90 percent on Friday. The 30-year yield touched 5.37 percent, a peak not seen since 2007.