S&P 500 Falls for Fourth Straight Day

The S&P 500 completed its fourth consecutive session of declines on 10 September 2026. Risk appetite weakened as Brent crude moved above $107 per barrel, driven by concerns over supply disruptions linked to the conflict between the United States and Iran. Near midday in New York, Brent advanced 5.65% to $106.93 per barrel, while West Texas Intermediate climbed 5.76% to $101.58.

Treasury yields climbed across maturities. The 2-year Treasury yield rose 13 basis points to top 4.5% for the first time since 2024, while the 30-year yield reached its highest mark since 2007. The 10-year Treasury yield climbed 10 basis points to 4.94%, alongside a $14 million options trade betting that the rate will reach 5% before 20 November. In a scheduled auction, the Treasury sold $22 billion in 30-year bonds at a yield of 5.308%, where primary dealers took only 2.2% of the issue.

Market pricing pushed the probability of a Federal Reserve rate hike at its 15-16 September meeting to around 70%. Investors also fully priced in an increase for October, brought forward from December. The shift followed the August producer price index, which rose 0.4% month-over-month and 5.4% from August 2025.

Elsewhere, the European Central Bank raised its deposit facility rate by 25 basis points to 2.5%, warning of prolonged inflation. Bitcoin declined up to 2.1% to $76,663, extending a four-session slide, while spot gold held near $4,400 per ounce.