This content was published on
September 9, 2026 - 19:00
4 minutes
(Bloomberg) — A resurgence in oil prices hit stocks and bonds, with losses deepening as the Treasury said it will purchase up to $6 billion of longer-dated government debt.The reaction shows how some investors had expected an even-larger operation. Ten-year yields climbed to the highest since 2023. Brent crude topped $100 as tensions between the US and Iran fueled worries about more energy disruptions, adding to bets the Federal Reserve will raise rates to curb potential inflationary pressures. The S&P 500 fell for a third straight day.US Central Command has said it “destroyed” eight tankers in the past few days after two Iranian missile attacks on Navy vessels, as part of a policy that military analysts describe as deterrence by punishment. The Iranian ships belonged to the Islamic Revolutionary Guard Corps, a powerful faction separate from Iran’s regular military.“The temperature just got turned up again,” said Kenny Polcari at SlateStone Wealth. “The risk premium is alive and well, and the risk to energy supplies coming out of the Gulf is real.”Meantime, the dollar hovered near its lowest in about seven months, 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.The spike in energy costs comes as traders brace for this week’s key inflation data. The issue of elevated prices and whether the Fed will hike rates for the first time in three years could dominate the Sept. 15-16 policy meeting.With officials concerned by persistently high inflation, but divided over how monetary policy should respond in the near term, new evidence of price pressures could tilt the Federal Open Market Committee into a hike. Cooler reports are likely to keep the Fed on hold, as it’s been through five previous meetings this year.The Bureau of Labor Statistics will release August data for the producer price index on Thursday, followed by the consumer price index on Friday.“A hot CPI print would all but seal a September hike and underpin a firmer dollar,” said Elias Haddad at Brown Brothers Harriman & Co. “A cooler reading would strengthen the case for a hold and leave the dollar vulnerable to a dovish Fed repricing.”Money markets assigned a roughly 60% probability of a September Fed hike.Corporate Highlights: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. raised £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 tailed off. Dell Technologies Inc. is seeking to raise about $4 billion from an investment-grade bond sale, joining a wave of issuers seeking to refinance debt as it rides an AI-driven boom in demand for servers. 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 0.4% as of 1 p.m. New York time The Nasdaq 100 fell 0.2% The Dow Jones Industrial Average fell 0.6% The MSCI World Index fell 0.5% The Russell 2000 Index fell 1.2% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro rose 0.1% to $1.1636 The British pound was little changed at $1.3552 The Japanese yen rose 0.3% to 153.56 per dollar CryptocurrenciesBitcoin rose 0.4% to $78,786.73 Ether rose 0.5% to $2,496.04 BondsThe yield on 10-year Treasuries advanced six basis points to 4.84% Germany’s 10-year yield advanced eight basis points to 3.44% Britain’s 10-year yield advanced nine basis points to 5.26% CommoditiesWest Texas Intermediate crude rose 2.8% to $95.60 a barrel Spot gold rose 1.2% to $4,409.22 an ounce ©2026 Bloomberg L.P.
