It was a down day across the major indexes:
- Dow Jones: 51,556 — down 0.53%
- S&P 500: 7,695.63 — down 0.62%
- Nasdaq Composite: 26,879.83 — down 0.70%
What drove the market:
- Oil prices rose sharply, with Brent around $100/barrel, increasing inflation concerns.
- Treasury yields moved higher, with the 10-year yield around 5.22%, putting additional pressure on stocks.
- Renewed uncertainty surrounding U.S.-Iran negotiations and the Strait of Hormuz added to investor caution.
- Nvidia rose about 2% after announcing a potential additional $150 billion stock buyback.
- MongoDB fell roughly 19% after its CEO announced he was leaving to take a senior position at Meta.
- Airlines were particularly weak because higher oil prices raise fuel costs; United and American both fell roughly 3–4%.
Bottom line: The market was primarily reacting to the combination of higher oil + higher interest rates/yields + geopolitical uncertainty. It was a reversal after last week’s gains, with the Nasdaq taking the largest percentage decline of the three major indexes.
Chat.GBT September 28, 2026