This content was published on
September 9, 2026 - 15:32
3 minutes
(Bloomberg) — Stocks joined bonds lower as oil prices rallied, fueling concerns about inflationary pressures that could make the Federal Reserve raise interest rates.Brent crude topped $100 a barrel as fresh tensions between the US and Iran heightened worries about energy flows through the Strait of Hormuz. The S&P 500 dropped for a third straight day. Treasury 10-year yields hovered near the highest since 2023. In the run-up to inflation data, money markets assigned a roughly 60% probability of a September Fed hike.The US attacked more Iranian oil tankers overnight, destroying five vessels in response to the Islamic Revolutionary Guard Corps targeting one of its warships. The tit-for-tat strikes underscored the difficulty to pivot from active hostilities to a sustained campaign of economic pressure against Tehran.Meantime, the dollar neared its lowest in about seven months as the yen rose. Treasury Secretary Scott Bessent challenged traders to test his resolve on boosting Japan’s currency, saying when he wades into markets these days he’s effectively doing so with inside information.Bessent is also set to reveal how far he’s initially willing to go to restrain US bond yields through an expanded buyback program. The Treasury Department plans to announce the revised size of Thursday’s buyback of 10- to 20-year debt — which was set at $2 billion when announced last month — at 11 a.m. in Washington.Corporate Highlights:Apple Inc.’s $570 billion summer surge is saddling new Chief Executive Officer John Ternus with high expectations heading into the company’s most anticipated event in years: the unveiling of the foldable iPhone on Wednesday. Alphabet Inc.’s Google is spending €13 billion ($15.1 billion) on artificial intelligence infrastructure in Finland, its biggest European investment, as the Nordic country’s cold climate and carbon-free power make it a magnet for data center builders. Amazon.com Inc. is expected to raise £4.25 billion ($5.8 billion) from its debut sterling bond sale, increasing the size of the four-part deal even as orders from investors eased slightly. Uber Technologies Inc. is looking to raise €4.5 billion ($5.2 billion) from its debut five-part euro bond, the latest move by an American company to diversify its funding in Europe. Dow Inc. is considering plans to exit its $20 billion chemicals partnership with Saudi Aramco, people familiar with the matter said, as part of the US firm’s efforts to reshape its portfolio amid a prolonged downturn in the industry. Some of the main moves in markets:StocksThe S&P 500 fell 0.3% as of 9:31 a.m. New York time The Nasdaq 100 fell 0.3% The Dow Jones Industrial Average fell 0.6% The Stoxx Europe 600 fell 1.2% The MSCI World Index fell 0.4% CurrenciesThe Bloomberg Dollar Spot Index fell 0.2% The euro rose 0.2% to $1.1647 The British pound was little changed at $1.3553 The Japanese yen rose 0.4% to 153.36 per dollar CryptocurrenciesBitcoin rose 1.3% to $79,528.95 Ether rose 1.2% to $2,512.33 BondsThe yield on 10-year Treasuries advanced one basis point to 4.80% Germany’s 10-year yield advanced four basis points to 3.41% Britain’s 10-year yield advanced three basis points to 5.21% CommoditiesWest Texas Intermediate crude rose 3% to $95.81 a barrel Spot gold rose 1.7% to $4,431.13 an ounce ©2026 Bloomberg L.P.
