Dow Jones| Nasdaq | US Stock Market Today | Live: US stocks end lower, retreating from record highs as Treasury yields climb

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Dow Jones Today Live Updates: US stocks dips amid Iran war tensions.
Synopsis
Dow Jones Today | US Stock Market Live: Wall Street closed lower on Wednesday, as long-dated US Treasury yields resumed their climb, reviving fears about inflation and mounting debt the day after the S&P 500 and the Nasdaq hit record closing highs.
The S&P 500 lost 17.78 points, or 0.23%, to end at 7,801.15 points, while the Nasdaq Composite lost 66.50 points, or 0.24%, to 27,533.39. The Dow Jones Industrial Average fell 355.91 points, or 0.69%, to 51,165.37.
1 New Update
The S&P 500 lost 17.78 points, or 0.23%, to end at 7,801.15 points, while the Nasdaq Composite lost 66.50 points, or 0.24%, to 27,533.39. The Dow Jones Industrial Average fell 355.91 points, or 0.69%, to 51,165.37. (Read)
Farmers, truckers and economists say a move to cut taxes on diesel will provide little relief from record-high fuel prices that have soared since the U.S. attacked Iran months ago. Industry groups said they appreciate President Donald Trump’s executive order expanding the use of a diesel now reserved for off-road work, but farmers already have access to the fuel and many have already wrapped up harvest. Truckers will struggle to navigate differing state rules.
US natural gas futures climbed about 3% to nearly a two-week high on Wednesday on a drop in output due to recent pipeline problems and worries that a Gulf of Mexico storm could cause further supply disruptions. Energy traders also said prices were supported by an expected increase in coming days in gas flows to liquefied natural gas export plants, including Freeport in Texas and Cove Point in Maryland. Front-month gas futures for November delivery on the New York Mercantile Exchange rose 8.9 cents, or 2.9%, to settle at $3.203 per million British thermal units (mmBtu), their highest close since September 24.
Florida asked a state judge on Wednesday to order changes to Instagram and Facebook to better protect young users, pressing ahead with a lawsuit accusing parent Meta Platforms of harming teens after most states resolved similar claims through a sweeping settlement.
Elliott Investment Management and Siris are exploring a sale of Gigamon that could value the infrastructure software provider at more than $2 billion, according to people familiar with the matter.
The firms have tapped investment bankers at Bank of America and Perella Weinberg Partners to advise Gigamon on the process, which is in its early stages, said the people, who requested anonymity because the deliberations are confidential.
Fed minutes: Participants generally saw inflation risks as skewed to the upside, while some saw those risks becoming more skewed in recent months.
Fed minutes: A few participants observed that the Treasury market had been functioning smoothly but noted the importance of planning for market stress.
Fed minutes: Many participants said that despite the recent rise in long-term Treasury yields, financial conditions appeared supportive of economic growth.
- All participants at the Fed’s September 15–16 meeting supported a 25-basis-point rate hike, and most assessed that another increase would likely be appropriate by year-end, the minutes showed.
- Many participants said that despite the recent rise in long-term Treasury yields, financial conditions appeared supportive of economic growth.
- Some participants saw the AI buildout as potentially causing aggregate demand to outpace supply over the medium term, putting upward pressure on inflation.
- The staff’s economic outlook was stronger than the one prepared for the July meeting.
The dollar gained against major peers on Wednesday, aided by higher oil prices, while investors awaited Federal Reserve meeting minutes and remarks from policymakers for signals on a potential rate hike.
The euro sank 0.83% to $1.1166, closing in on the 17-month lows from last week as French bonds came under renewed pressure on fiscal concerns. The yen weakened 0.09% to 158.265 per dollar, even after a dovish Bank of Japan board member said she would support interest rate increases.
Trade ministers from a dozen G20 countries along with the European Union and Poland signed onto a US-led statement calling for action to eliminate structural excess factory capacity and the "non-market" policies that encourage overproduction, the US Trade Representative's office said on Wednesday.
The joint statement from the market-oriented economies was agreed by senior officials on the sidelines of an OECD Trade Committee meeting. A US-led meeting of Group of 20 trade ministers in Milwaukee last week failed to reach consensus on the topic of excess industrial capacity.
US Treasuries came under renewed selling pressure on Wednesday, driving yields on the benchmark 10-year note and 30-year bond to fresh 24-year highs as a jump in oil prices above $100 reignited worries that inflation may prove more stubborn than expected.
In late morning trading, the benchmark 10-year yield climbed 4.4 basis points (bps) to 5.316% after hitting a 24-year peak of 5.364%. US 30-year yields also touched a 24-year high and were last 5.5 bps higher at 5.696%.
On the shorter end of the curve, US 2-year yields, which reflect interest rate expectations, were down less than a basis point at 4.783% US2YT=RR. Rising yields suggest Treasury prices are lower.
UK's FTSE 100 dropped on Wednesday, as financial stocks pulled the index lower after three consecutive sessions of gains, while surging bond yields and elevated oil prices kept the risk-off mood firm in markets.
The blue-chip FTSE 100 index fell 0.8% to 10,458.5 points, while the midcap FTSE 250 slipped 0.7% to a three-week low.
Focus will likely shift to how corporate America is faring as the third-quarter earnings season kicks off next week, with a number of high-profile financial firms expected to report on Tuesday.
US stocks have been buoyed lately by optimism around the AI trade and expectations of strong corporate earnings, despite higher energy prices and a summer selloff in bond markets that fueled concerns about tighter monetary policy.
The S&P 500's equal-weighted counterpart stands almost 6% away from record highs and the interest-rate-sensitive Russell 2000 small-cap index is down more than 10% from its August highs.
Foreign investors pulled $26.3 billion out of emerging market stocks and bonds in September, the first monthly outflow since June, as a hawkish US Federal Reserve drove up yields and the dollar, a report by the Institute of International Finance showed on Wednesday.
Non-resident investors pulled $7 billion from the emerging market fixed income sector last month, the first net outflows since March, when the escalating Middle East conflict roiled global markets.
British recruiter SThree on Wednesday said the UK's takeover panel had extended the deadline for US-based Circle8 Group to make a takeover offer for the company to October 21. SThree shares rose as much as 6.1% after the news, and closed the session up by 2.2%.
The pharmaceutical industry's top lobby group on Wednesday sued to invalidate one piece of the Trump administration's efforts to benchmark US drug prices to lower costs overseas in the Medicare health insurance program, arguing that it is an illegal overreach by the US government.
The GLOBE rule intends to set hospital drug prices for Medicare patients. Its final version was published last week on exactly how a "most favored nation" pricing system based on what is paid in a group of comparable countries would be integrated in the Medicare Part B program.
US natural gas futures climbed about 2% to a fresh one-week high on Wednesday on a drop in output due to pipeline problems in recent weeks and worries a storm in the Gulf of Mexico could cause further supply disruptions. Front-month gas futures for November delivery on the New York Mercantile Exchange rose 5.1 cents, or 1.6%, to $3.165 per million British thermal units (mmBtu), putting the contract on track for its highest close since September 25 for a fourth day in a row. 
Iraq devalued its currency Wednesday, changing the official exchange rate from around 1,300 Iraqi dinars to the dollar to 1,500 dinars to the dollar. The country’s central bank said in a statement that the new exchange rate had been decided at a meeting of Iraq’s Cabinet the night before “to meet the relevant financial, economic and monetary requirements.”
The previous exchange rate was set in 2023. In practice, there has always been a gap between the official rate and the market rate used by exchange shops.
Gold declined to a two-month low on Wednesday, pressured by a strong US dollar and Treasury yields, while investors awaited the minutes of the Federal Reserve's September meeting to gauge the implications for the central bank's next policy steps.
Spot gold fell 1.6% to $4,096.13 per ounce by 9:20 a.m. EDT (1320 GMT), touching its lowest level since August 5. US gold futures for December delivery declined 1.6% to $4,121.70.
The Dow Jones Industrial Average fell 325.06 points, or 0.63%, at the open to 51,196.22. The S&P 500 fell 32.60 points, or 0.42%, at the open to 7,786.33, while the Nasdaq Composite fell 155.83 points, or 0.56%, to 27,444.06 at the opening bell.
Foreign investors pulled $26.3 billion out of emerging market stocks and bonds in September, the first monthly outflow since June, as a hawkish US Federal Reserve drove up yields and the dollar, a report by the Institute of International Finance showed.
Non-resident investors pulled $7 billion from emerging market fixed income last month, the first net outflows since March when the escalating Middle East conflict roiled global markets.
Investor attention shifts to corporate America as the third-quarter earnings season begins next week, with several major financial firms due to report on Tuesday. Analysts expect aggregate S&P 500 earnings to climb 30.6%, led by projected growth of 114.7% in energy and 66.5% in technology, according to LSEG.
On Wednesday, however, sentiment turned more cautious as investors reassessed the outlook for interest rates and energy costs. Brent crude was back above the psychologically important $100-a-barrel level as Middle East supply concerns persisted.
Chip stocks lead premarket declines, with Micron Technology falling 3.1% and AMD, Broadcom and Marvell Technology losing between 1.3% and 2.1%. SpaceX drops 2.3% following a Financial Times report that it is seeking $40 billion to finance purchases of Nvidia chips.
The yield on 30-year Treasury bonds rose to the highest since 2002, last at 5.71% ahead of the release later in the day of minutes from the US Federal Reserve's September policy meeting, when policymakers raised interest rates to combat inflation.
Wall Street futures decline on Wednesday as Treasury yields and oil prices rebound, keeping investors cautious ahead of the Federal Reserve’s September meeting minutes. Dow E-minis fall 300 points, or 0.58%, S&P 500 E-minis decline 25.25 points, or 0.32%, and Nasdaq 100 E-minis shed 219.75 points, or 0.7%.

document fetched 2026-10-08 02:57