Stocks Slide as Treasury Yields Climb and Oracle Declares Force Majeure
On September 24, major U.S. stock indices continued their decline amid rising Treasury yields and investor concerns over inflation and geopolitical tensions. The S&P 500 fell by nearly half a percent to 7,669, the Nasdaq Composite dropped almost three-quarters of a percent to 26,739, and the Dow Jones Industrial Average lost about two-thirds of a percentage point to 51,144. A bond sell-off has driven yields higher, with the 10-Year Treasury yield reaching 5.16% and the 30-year hitting its highest level in over two decades. Oracle shares fell nearly 5%, raising concerns about delays tied to a New Mexico data center project after it declared force majeure. Meanwhile, Meta Platforms saw gains following product launches involving AI integration, while United Parcel Service dropped due to an analyst downgrade. Analysts suggest that high yields may reflect economic strength and could still support strong corporate performance in the long term.
Topics: bond yields Dow Jones Industrial Average Nasdaq Composite S&P 500 stock market decline