U.S. oil returning above $100 intensifies inflation concerns; surging U.S. Treasury yields drag U.S. stocks down for a fourth consecutive decline

智通财经2026/09/10 22:46

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The U.S. stock market closed lower for the fourth consecutive trading day on Thursday. The Dow Jones Index fell by 316.56 points to 52,064.10 points, a decrease of 0.60%. The S&P 500 Index dropped 44.66 points to 7,591.70 points, down 0.58%. Meanwhile, U.S. Treasury yields hit multi-year highs as concerns about inflation and interest rate prospects continued to intensify.
Crude oil futures rose by $6.43 to $102.48 per barrel, an increase of 6.7%, marking the highest closing price since May 19. This is the eighth consecutive trading day of gains for crude oil, the longest winning streak in three years. The market increasingly believes the U.S. and Iran are heading toward a war of attrition—while the U.S. continues to pressure Iran’s economy, Tehran counters by demonstrating its influence over the global energy market.
The U.S. Producer Price Index (PPI) rose by 0.4% month-on-month in August and increased by 5.4% year-on-year. The recent surge in oil prices has begun to transmit to business users, with the chain reaction of diesel prices being particularly notable. Fifth Third Commercial Bank’s chief U.S. economist pointed out that the sharp rise in energy prices in September will likely incline the Federal Reserve to favor a rate hike at next week’s meeting.
U.S. Treasury yields surged across the board. The 30-year Treasury yield increased by 0.075 percentage points to 5.360%, the highest closing level since June 2004. The 10-year yield climbed 0.104 percentage points to 4.943%, the largest single-day increase since May and the highest since October 2023. The 2-year yield, sensitive to policy, rose 0.122 percentage points to 4.548%, the largest increase since March and the highest in more than two years. The U.S. dollar rose following the release of wholesale inflation data.

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U.S. oil returning above $100 intensifies inflation concerns; surging U.S. Treasury yields drag U.S. stocks down for a fourth consecutive decline

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