Nasdaq Drops 0.78% as Oil Hits $105.83 and 10-Year Yield Tops 4.995%
IXIC sits 26% above its 52-week low of $20,690.249.
Summary
The Nasdaq fell 0.78% to 25,981.57 on September 15, extending the tech-heavy index's decline as oil surged 4.4% to $105.83 a barrel and the 10-year Treasury yield climbed to 4.995%, its highest close since July 2007. The move follows a series of oil-driven selloffs over the past two weeks, with Brent crude now above $107 intraday on Houthi threats to key shipping lanes. Rising energy costs are fueling inflation expectations and pushing long-term yields higher, pressuring growth stocks. The Dow lost 328 points and the S&P 500 fell 0.45%, reflecting broad risk-off sentiment ahead of the Fed's rate decision. Traders are watching whether the Fed signals a more hawkish stance given the oil shock, which could further weigh on tech valuations.
At the time of this announcement, IXIC was trading at $25,981.57 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.