Stock market today: Dow, S&P 500, Nasdaq sink as oil prices surpass $100, Treasury yields jump

LIVE Stock market today: Dow, S&P 500, Nasdaq sink as oil prices surpass $100, Treasury yields jump Grace O'Donnell and Jake Conley Updated Wed, September 9, 2026 at 7:13 PM GMT+2 1 min read CL=F ^DJI ^IXIC ^TNX ^GSPC US stocks sagged on Wednesday as oil prices continued their journey upward and Treasury yields jumped after Treasury Secretary Scott Bessent revealed new bond buyback plans. The Dow Jones Industrial Average ( ^DJI ) and Nasdaq Composite ( ^IXIC ) both lost 0. 7%, extending losses after a downbeat session on Tuesday .

The S&P 500 ( ^GSPC ) fell by 0. 5%. The 10-year yield ( ^TNX ) rose 4 basis points to 4.

84%, its highest level since October 2023, as the market reacted negatively to Bessent's announcement that the Treasury Department intends to triple its next bond buyback program in an effort to curb rising borrowing costs. Oil prices reached triple digits for the first time in over a month after fighting between the US and Iran escalated and the US struck five Iranian oil tankers. Brent crude oil futures ( BZ=F ), the global benchmark, traded at $101 per barrel, while US benchmark WTI crude ( CL=F ) climbed to $96 per barrel.

Concerns that energy supply disruptions stemming from the war in the Strait of Hormuz will persist fed into bets that the Federal Reserve will raise interest rates next week. Traders now see a 60% chance of a 25 basis point hike this month, according to CME Group, up slightly from the odds a day ago. Inflation concerns took priority with fewer earnings reports to digest.

On Wednesday, however, Chewy ( CHWY ) posted in-line quarterly results , while American Eagle Outfitters ( AEO ) will provide quarterly updates and insights into consumer spending when it reports after the bell. Apple ( AAPL ) will also kick off a new era today when CEO John Ternus takes the stage for the first time for the company's annual iPhone launch event. LIVE 10 updates 47 mins ago Jake Conley Fox and Roku shares sink after Justice Department requests more information on proposed merger Fox Corporation ( FOX ) and Roku ( ROKU ) shares sank by roughly 2% on Wednesday after the company disclosed that the US Justice Department has requested additional information on Fox's proposed acquisition of Roku, potentially extending timelines for such a deal longer than the companies initially forecast.

Both entities had received requests from the Justice Department, Fox said on Wednesday in a securities filing. The request extends the required "waiting period" for 30 days after both companies comply with the Justice Department's inquiry. The proposed deal, initially announced in June, would see the digital streaming service platform Roku acquired by Fox Corporation for $160 per share in a combined cash-and-stock deal, valuing Roku at roughly $22 billion.

The proposal drew immediate scrutiny, as critics argued that Fox would own both major content — including its own programming and Tubi — and Roku, a major platform through which consumers reach content from a variety of providers. Fox could privilege its own content over others if it owns Roku, critics of the proposal have said. Sen.

Elizabeth Warren and Rep. Becca Balint have both asked the Justice Department to closely examine the merger. Fox has said in securities filings that it expects the transaction to close in the first half of 2027.

Today at 4:35 PM UTC Grace O'Donnell Bond yields surge after Treasury triples buyback plans The 10-year Treasury yield ( ^TNX ) climbed to its highest level in three years on Wednesday after Treasury Secretary Scott Bessent announced the details of its next bond buyback program. The US Treasury plans to triple the size of its next bond buyback of 10- to 20-year securities to $6 billion, from $2 billion initially announced, as Bessent looks to curb rising borrowing costs. Long-dated Treasury yields initially dipped on the announcement before reversing higher as the bond market's reaction turned negative.

The 10-year yield held at 4. 84% at last check, hitting its highest level since October 2023. The 30-year yield ( ^TYX ) also jumped 4 basis points to 5.

3%, returning to the multiyear high reached in August. Today at 3:41 PM UTC Grace O'Donnell Meta stock surges after company releases new AI agent Meta ( META ) stock surged over 6% on Wednesday as Wall Street analysts cheered the release of the company's AI assistant and standalone chatbot, Muse. Mizuho Securities analysts, who have an Outperform rating and a $750 price target on the stock, wrote: "We believe Meta's Muse consumer AI agent marks the beginning of a substantial product cycle for Meta that is not priced into shares.

" Yahoo Finance's Ines Ferré reports: Meanwhile, KeyBanc Capital Markets analysts hold an Overweight rating on the stock with a price target of $780. The analysts wrote that they "continue to believe the market underestimates Meta's AI positioning and product cycle. " Muse "is designed around the way people already communicate, so talking to it works just like messaging another person, in the Muse app or directly in WhatsApp," Meta said on Tuesday.

In a video message, CEO Mark Zuckerberg touted the tool's privacy and security capabilities. Read more. Today at 2:49 PM UTC Jake Conley US convertible bond offerings notch yearly record as AI companies issue debt: Goldman Sachs US convertible bond issuance has soared to an all-time high, surpassing all previous full-year totals as the tech sector seeks additional sources of capital to finance the AI build-out.

Convertible bonds are a form of corporate debt that pays interest but can later be converted into shares of the company's stock. Year to date, the market has seen $135 billion of convertible bonds issued, with just under half of that supply so far this year coming from the AI industry, Goldman Sachs credit analyst Spencer Rogers wrote in a client note on Wednesday. 2026 convertible supply has already surpassed any previous full-year total, per Goldman Sachs analyst Spencer Rogers.

Chart: Goldman Sachs · Goldman Sachs The vast majority of these offerings, Rogers said, have come from smaller issuers with high-yield ratings, but the Big Tech hyperscalers pouring capital into the AI infrastructure boom have begun to issue increasingly large amounts of debt. Alphabet ( GOOG ), for example, issued $19 billion in convertible bonds in June, while Oracle ( ORCL ) issued a $5 billion tranche in February. This type of issuance from hyperscalers, Rogers said, can assist those companies with financing diversification and balance sheet optimization.

"Convertible bonds have long been an important vehicle for funding early-stage, growth-oriented companies, giving investors exposure to equity returns on the upside while sitting higher in the capital structure and having the benefit of bond-like risk if the growth doesn't materialize," Rogers wrote to clients. "It should come as no surprise then," Rogers wrote, "that over the last couple of years it has increasingly become a funding vehicle of choice for AI-focused companies. " Today at 2:04 PM UTC Grace O'Donnell What to expect from Apple's big iPhone event today Apple's ( AAPL ) annual iPhone event always turns heads.

But today's show at 1 p. m. ET should be more interesting than usual.

The event marks a new era for Apple as it's the first keynote hosted by new CEO John Ternus , who took over from Tim Cook on Sept. 1. Ternus faces a number of challenges as he steps into the top role, including navigating the tech giant's artificial intelligence rollout and keeping Apple's supply chain running smoothly.

The star of the show is expected to be Apple's first foldable iPhone — potentially its biggest product breakthrough in years. We're also looking for upgrades to iPhone 18 Pro models and the Apple Watch lineup. Investors will closely scrutinize any updates on Apple's AI strategy as well.

Apple stock historically tends to dip on its iPhone lau nch day but go on to make big gains in the months that follow. This morning, the stock has wavered in anticipation of the big event. Tech editor Daniel Howley is on the ground in Cupertino.

Follow along with the latest updates and announcements here. Today at 1:36 PM UTC Jake Conley US stock market falls into red at the opening bell on Wednesday The US stock market turned red on Wednesday as the war in Iran pushed oil prices to monthlong highs, shifting expectations that the Fed may hike rates. The Dow Jones Industrial Average ( ^DJI ) fell by roughly 0.

6%, while the S&P 500 ( ^GSPC ) and Nasdaq Composite ( ^IXIC ) both shed roughly 0. 3%. Futures on Brent crude, the international oil benchmark, jumped past $100 per barrel on Wednesday after news of new strikes by the US military on Iranian crude oil tankers, with the global energy complex facing pressure from multiple directions.

US gasoline now averages over $4. 20 per gallon. In the corporate world, Chewy ( CHWY ) reported earnings in line with expectations, while American Eagle Outfitters ( AEO ) reports this afternoon.

All eyes, however, will be on Cupertino, California, where newly minted Apple ( AAPL ) CEO John Ternus will headline the tech firm's annual launch event. Today at 12:15 PM UTC Jake Conley Brent oil crosses $100 for first time in two months as Middle East conflict flares Brent oil prices crossed $100 for the first time in roughly two months on Wednesday as a resurgence in the US-Iran conflict and worries over disruptions throughout the global oil complex pushed prices past the triple-digit mark. Futures on Brent crude ( BZ=F ), the international benchmark, rose by roughly 3% on Wednesday to cross over $100 per barrel, while those on US benchmark WTI crude ( CL=F ) gained a bit more than 2% to push past $95.

The conflict in the Middle East, now in its seventh month, has continued to snarl the flow of energy products out of the Persian Gulf as Washington and Tehran remain at war, with shipping through the Strait of Hormuz still constrained by the threat of violence. Sending prices higher on Wednesday was news that the US military overnight sank five Iranian crude oil tankers in what US Central Command said was a response to attempts by Iran to strike US Navy carriers in the region. The move by the US marks the second time in as many days American forces have targeted Iran's shipping sector.

Read more. Today at 10:00 AM UTC Grace O'Donnell The US/Canada trade war escalates as White House unveils plan to ban certain products entirely Yahoo Finance's Ben Werschkul reports: Canadian retaliatory tariffs of up to 50% on some 700 US goods took effect on Tuesday and led to a quick response from the White House who unveiled plans hours later that included a plan to ban Canadian dairy products, most alcoholic beverages and motorcycles as relations between the US and Canada took yet another turn for the worse. The move by Canadian Prime Minister Mark Carney solidified Canada as one of the few nations to choose confrontation in President Trump's trade wars.

Canadians say they are willing to endure economic pain to make a point . And neither side appeared interested in stepping back Tuesday with Carney striking a defiant tone and Trump's team quickly rolling out a series of actions in response, including the plans for a full ban on dairy products and a partial ban on alchohol products which currently have tariffs but will now be "excluded from importation into the United States" on September 29 if the stalemate between the two nations continues. These bans will be carried out, the White House says, under Presidential Authority derived from Section 338 of the Tariff Act of 1930.

Read more. Today at 9:00 AM UTC Grace O'Donnell Good morning. Here's what's happening today.

Economic data: MBA mortgage applications, week ended Sept. 4 (+0. 8% expected); ADP weekly employment change, week ended Aug.

22 (+11,750 previously) Earnings calendar: The Cooper Companies ( COO ), SailPoint ( SAIL ), Chewy ( CHWY ), AeroVironment ( AVAV ), Navan ( NAVN ), American Eagle Outfitters ( AEO ), Wealthfront ( WLTH ) Catch up on some top stories overnight: Bessent: We can grow our way out of debt with 3% GDP growth The US/Canada trade war escalates as retaliatory tariffs from Canada spur the White House to unveil a plan to ban certain products entirely Sapporo to move some beer production from Canada to US after tariffs US DOJ widens probe into Fox's Roku deal, Semafor reports LIV Golf files for bankruptcy in latest step to survive after losing PIF funding, chaotic 2026 season SAP CEO: Our AI breakthrough moment is coming Today at 8:00 AM UTC Grace O'Donnell Bessent: We can grow our way out of debt with 3% GDP growth Yahoo Finance's Jennifer Schonberger reports: Treasury Secretary Scott Bessent said Tuesday that he believes the US can grow its way out of debt if it can achieve annual economic growth of 3%. "We don't have a revenue problem. We have a spending problem," Bessent said during a Q&A at SMU Cox School of Business in Dallas.

He said if the US tries to contain spending coupled with 3% growth, "we [can] grow our way out of this. " The total US national debt recently surpassed $40 trillion , and the annual fiscal deficit is projected to top $2 trillion by the end of the fiscal year on Sept. 30.

"We'll get to the other side of this Iran conflict and the underlying economy is very, very strong, and I think reaccelerating," he added, pointing to how incentives in the big tax law passed last year are leading to new construction of manufacturing plants, pointing to Pepsi ( PEP ) expanding a Frito-Lay plant in Arizona, Winnebago ( WGO ) buying a battery plant, and Boeing ( BA ) increasing capacity of its Dreamliner. Read more.