24.09.202613:32:49UTC+00US Stocks Extend Decline

US equities extended their decline on Thursday as rising Treasury yields underscored a deteriorating macroeconomic backdrop. The S&P 500 slipped 0.5%, the Nasdaq 100 lost nearly 1%, and the Dow Jones Industrial Average eased 0.3%. Yields on Treasury notes and bonds across the curve held near the prior session’s highs after PMI data pointed to a faster-growing economy and sharply rising prices, reinforcing expectations of higher-for-longer Federal Reserve interest rates.

At the same time, hopes for a diplomatic breakthrough between Iran, the US, and GCC countries faded, suggesting a prolonged disruption to oil exports from the region. The prospect of tighter financial conditions continued to weigh on AI hyperscalers and semiconductor producers just as the sector was poised to extend its record pace of debt issuance. Shares of Nvidia, Marvell, Intel, Amazon, and Alphabet fell between 1% and 3%. Meta also declined 2%, paring this week’s gains as investors evaluated the potential returns on its newly launched AI agent tools.