Wall Street Falls First Session of September

The first September Wall Street session ended lower due to rising bond yields and increasing oil prices, amid growing concerns over ongoing tensions in the Middle East and their impact on inflation and interest rates. Major indices saw declines after U.S. Treasury yields reached their highest level in 19 months. Markets are now pricing in a 68.2% chance of a rate hike in September, up from 39.6% a week earlier, driven by elevated oil prices and heightened inflation fears. Additionally, Gulf tensions led to higher oil prices, complicating the effort to control inflation. This comes amid a slowdown in some American economic data and persistent inflationary pressures.

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