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Wall Street Slips as Oil, Bond Yields Climb on Iran and Fed Risks

Published: September 29, 2026 · Updated: September 30, 2026 · 1 min read

US equities fell Monday as higher crude prices and multi-year peaks in Treasury yields weighed on sentiment, with investors gauging Iran ceasefire diplomacy and the Federal Reserve’s next move.

The Dow Jones Industrial Average dropped 347 points, or 0.67 per cent, to 51,481.51. The S&P 500 lost 0.77 per cent to 7,683.69—its largest daily percentage decline since 20 August—and the Nasdaq Composite fell 0.92 per cent. West Texas Intermediate settled at US$92.60 a barrel and Brent at US$105.28 after prices jumped when President Trump rejected Iran’s peace framework, then eased on hopes Qatari mediators would keep talks alive.

The 10-year Treasury yield rose toward levels not seen since 2007, and the 30-year approached highs last touched in 2004. Markets priced roughly a 70 per cent chance of at least a 25-basis-point Fed hike in October, CME FedWatch showed, after a September increase. Fed Governor Lisa Cook said she expects continued inflation pressure from artificial-intelligence demand and Middle East conflict, without committing to further hikes. Nvidia rose after unveiling a US$150-billion buyback; Boeing slid on a fresh MAX 10 certification delay.

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