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US stocks fall amid rising oil and inflation concerns
U.S. stocks declined at the start of a short trading week, as oil prices rose and inflation data expectations potentially led the Federal Reserve to hike interest rates. The Dow Jones Industrial Average dropped by 1%, the S&P 500 decreased by 0.3%, and the Nasdaq by 0.1%. Oil prices continued their upward trend for the sixth consecutive day due to tensions between the United States and Iran, with Brent crude remaining around $97 per barrel, fueling expectations of a rate hike — with a 60% probability following the Federal Reserve meeting on September 15-16, according to the Fed Watch tool. Additionally, rising energy prices pushed U.S. Treasury yields to their highest levels since November 2023. During the session, semiconductor stocks stood out as bright spots, with Intel and AMD shares soaring over 9% and 6%, respectively, helping to offset some of the market’s losses.
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