Stock Market News for Sep 24, 2026
U.S. stocks ended lower on Wednesday, as Treasury yields and oil prices rose, while investors feared that the Federal Reserve could go ahead with more interest rate hikes. All three major indexes ended in negative territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) slid 0.7%, or 352.10 points, to end at 51,511.59 points.
The S&P 500 declined 0.8% to end at 7,706.05 points. Utilities and consumer discretionary stocks were the worst performers.
The Utilities Select Sector SPDR (XLU) lost 1.9%, while the Consumer Discretionary Select Sector SPDR (XLY) declined 1.5%. Ten of the 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq lost 1.1% to close at 26,936.04 points, after hitting an all-time closing high in the previous session.
The fear gauge, the CBOE Volatility Index (VIX), was up 6.83% to 15.8. Decliners outnumbered advancers on the S&P 500 by a 1.9-to-1 ratio. A total of 17 billion shares were traded on Wednesday, higher than the last 20-session average of 16.5 billion.
On the Nasdaq, there were 41 new 52-week highs and 186 new lows. On the S&P 500, there were 14 new 52-week highs and 33 new lows.
Treasury Yields Rise, Oil Prices Surge
Treasury yields, which eased in the previous two sessions, climbed again on Wednesday, putting pressure on stocks. The 10-year Treasury yield jumped to 5.135%, to record its highest level since July 2007. Also, the 2-Year Treasury yield raced to 4.947%, its highest level since May 2024.
Oil prices also rose on Wednesday, after Iranian president Masoud Pezeshkian said at the United Nations that Iran would not surrender to the United States under “pressure.” Brent Crude futures jumped 3.9% to settle at $103.08 per barrel. The West Texas Intermediate crude futures also rose 1.8% to $92.16 a barrel.
Concerns have been growing that oil prices could surge further if tensions in the Middle East continue for a longer period.
Pezeshkian’s comments came a day after President Donald Trump, on Tuesday, said at the annual United Nations General Assembly gathering that an Iranian delegation and U.S. officials held talks for three hours and that they had a “good meeting.” Earlier that day, in his address to the UN, Trump said that he had to make a “big decision” whether to strike a deal with Iran or “annihilate” the nation.
Investor’s Digest Fed Governor’s Speech
Traders also closely watch Federal Reserve Governor Michael Barr’s speech. Brass said that further “policy adjustments” are required by the central bank in its bid to fight sky-high inflation. Barr said that economic growth is robust and the labor market remains on solid ground, but inflation remains above the Fed’s 2% target.
The Fed already hinted at another interest rate hike this year if inflation remains stubbornly high. Investors are now almost sure about that. Markets are pricing in a 66% chance of a quarter percentage point rate hike by the Fed in its October policy meeting, according to the CME FedWatch tool, up from 8.8% a month ago.
Meanwhile, shares of Meta Platforms, Inc. (META) rose 1% on Wednesday, bringing its weekly gains to 12% after a solid response to its AI assistant, Muse, which was launched earlier this month.
Experts believe the Muse could pose challenges for banks, consumer businesses and online shopping platforms. Currently, Meta Platforms has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Amazon.com, Inc. (AMZN) and Alphabet, Inc. (GOOGL) fell 2% and 3.8%, respectively, after both companies blocked Muse from their shopping platforms.
No major economic data was released on Wednesday.
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This article originally published on Zacks Investment Research (zacks.com).