Here is the U.S. stock-market summary for Wednesday, September 23, 2026:
- S&P 500: fell about 0.8% to 7,706
- Dow Jones: fell about 0.7% to 51,512
- Nasdaq Composite: fell about 1.1% to 26,936
- Russell 2000: fell about 1.8%.
What drove the decline
- Treasury yields jumped.
The 10-year Treasury yield rose to about 5.11%, its highest level since 2007. Higher yields put pressure particularly on growth and technology stocks. - Oil prices moved sharply higher.
Crude rose nearly 4%, adding to concerns that higher energy prices could keep inflation elevated. Energy stocks consequently performed relatively better. - Strong economic data increased inflation concerns.
A business-activity report showed U.S. activity and costs rising strongly, reinforcing concerns that inflation may remain above the Federal Reserve’s target. - Technology stocks pulled the Nasdaq down.
The Nasdaq had just posted consecutive record closes, but today it reversed course. Alphabet and Amazon were among the stocks weighing on the market. - Middle East tensions added uncertainty.
Investors continued watching U.S.-Iran diplomacy. Comments from Iran’s president and the US President’s statements contributed to uncertainty surrounding oil supplies and geopolitical risk.
One interesting point
Despite today’s decline, the market remains substantially higher for the year. Through today’s close, the S&P 500 was up about 12.6%, the Nasdaq 15.9%, and the Dow 7.2% for 2026.
Bottom line: Today was primarily a bond-yield/inflation/oil-driven selloff, rather than a collapse in the stock market. The Nasdaq’s 1.1% decline was notable because it came immediately after record highs.
Brought to you by ChatGPT 9-23-26