S&P 500 falls to a 1-month low, down 0.6%
US stocks fell again as a surge in oil and fuel prices lifted Treasury yields and pressured corporate margins. The S&P 500 fell 0.6%, the Dow dropped 0.4%, and the Nasdaq 100 lost 1.3%.
US stocks fell further as oil and fuel prices surged, lifting Treasury yields and pressuring corporate margins. 3%. 4% from the previous month in August as the war in Iran lifted wholesale energy prices. Oil and fuel benchmarks have climbed further since the start of September on fresh escalation in the war and increased buying from Asia, adding to equity pressure amid the possibility of a Federal Reserve rate hike next week.
Chip producers fell on exposure to higher long-dated credit costs, with Marvell, Intel and Lam Research down 3%. 5% ahead of its earnings after the bell. Apple edged higher to trim yesterday's losses after announcing a series of new products, including the foldable iPhone Duo.