US stocks fall as S&P 500 loses 0.08% and Brent nears $100

US stock indices opened lower on Wednesday, September 23, 2026, as rising oil prices and elevated Treasury yields curbed recent momentum. The S&P 500 fell 0.08%, the Nasdaq Composite lost 0.21% after hitting a record high on Tuesday, and the Dow Jones Industrial Average declined 0.12%.

Brent crude rebounded after five consecutive sessions of declines to trade near $100 per barrel, driven by persistent supply risks and tensions in the Strait of Hormuz. European diesel rose up to 7% during the session, while the US 10-year Treasury yield hovered around 4.98% following the Federal Reserve rate hike the previous week.

The combination of higher yields and a stronger dollar pushed precious metals lower. Gold fell 1% to $4,316.37 per ounce in London, while silver slid 2.8% to $65.19 per ounce. Money markets priced in at least one 25-basis-point Fed rate increase before year-end, assigning a probability above 50% to an October move.

In individual stocks, IonQ climbed around 11% following the announcement of a real-time quantum error-correction decoder. Microsoft gained support after Stifel upgraded its rating from hold to buy, with analyst Brad Reback raising his price target from $530 to $575.