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StocksMediumUpdated•Originally published 8 September 2026•Updated 8 September 2026•
2 min read

US Stocks Slip as Brent Nears $98 and 10-Year Yield Briefly Tops 4.8%

Key Facts

1The S&P 500 fell 0.4% and the Nasdaq Composite slipped 0.1%, while the Dow lost 575 points or 1.1% by midday.
2Brent rose 0.6% to $97.54 a barrel after reaching $99.46 intraday.
3The 10-year yield briefly topped 4.8%, while the probability of a 25-basis-point rate increase reached about 58%.
4Commercial crude inventories fell 4.5 million barrels to 424.5 million in the week ended August 28.

US stocks declined Tuesday, with the S&P 500 down 0.4%, the Dow Jones Industrial Average off 575 points or 1.1%, and the Nasdaq Composite 0.1% lower by midday. Rising oil prices, higher bond yields and renewed inflation concern pressured the market.

Brent crude rose 0.6% to $97.54 a barrel after reaching $99.46 intraday. Higher energy prices increase the risk that additional costs will pass through to companies and consumers, keeping inflation expectations at the center of the market debate.

In bonds, the 10-year US Treasury yield briefly moved above 4.8% before easing to about 4.78%. Higher long-term yields pressure equities by increasing financing costs and the discount rate applied to future earnings.

Traders assigned about a 58% probability to a 25-basis-point Federal Reserve rate increase at the next meeting. The central bank meets on September 15-16; the probability is a market-implied estimate, not a Fed commitment.

The August Producer Price Index is scheduled for September 10 at 8:30 a.m. Eastern, followed by the Consumer Price Index on September 11 at 8:30 a.m. They are the final major inflation releases before the September 16 decision and could reshape the path of yields and equities.

In the oil-market backdrop, the Energy Information Administration's September 2 report showed commercial crude inventories falling 4.5 million barrels to 424.5 million in the week ended August 28. The decline provides supportive context for prices, but it does not by itself prove that inventories caused Tuesday's oil rise or equity losses.