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US stock futures were trading lower in Tuesday's trade, September 15, as investors remained cautious ahead of the US Federal Reserve's policy decision, while surging Treasury yields and elevated crude oil prices fuelled expectations of the first rate hike in more than three years on Wednesday. S&P 500 futures were down 0.3%, while Nasdaq-100 futures declined 0.4%. Futures tied to the Dow Jones Industrial Average also fell 229 points, or 0.4%. In the previous session, all three key indices closed in the red as a renewed sell-off hit chip and AI-related stocks after leading AI companies called for a slower pace of development. Several technology stocks also fell in premarket trading, with Alphabet and Microsoft down around 1% each. Chipmakers, which bore the brunt of Monday's sell-off, were trading in a narrow range, while Nvidia edged marginally higher. While there is little clarity so far on how such a slowdown would unfold, the latest declines have added to market gloom at a time when above-target inflation and fears of higher borrowing costs have already clouded the outlook for equities. The pressure on equities was compounded by rising Treasury yields, as investors demanded higher compensation amid growing inflation concerns and expanding government deficits. In the latest move, the benchmark 10-year Treasury yield crossed the 5% threshold, reaching 5.041%, its highest level since 2007. The sell-off in Treasuries has raised the stakes ahead of the Federal Reserve's interest-rate decision on Wednesday, with money markets pricing in a rate hike as almost certain. Traders are also closely monitoring developments in the Middle East, as the latest attacks by Iran-backed Houthi rebels on Saudi Arabia and disruptions to key oil infrastructure have deepened concerns over energy supplies. The Houthis have also reportedly seized Perim Island in the Bab el-Mandeb Strait, adding to pressure on Saudi oil exports and global shipping routes. Brent crude, the international benchmark, rose $2.75 to $108.43 a barrel, compared with around $72 a barrel before the start of the war in Iran in late February. US West Texas Intermediate crude gained $2.81 to $104.20 a barrel. Meanwhile, Oman reportedly said it had to postpone a meeting on Monday in Muscat with Iran and other regional countries to discuss the Strait of Hormuz. A US Federal Reserve rate hike now looks almost certain after August inflation data showed that prices for a broad range of goods and services remained elevated, with higher tariffs and the ongoing conflict in the Middle East adding to price pressures. The latest consumer inflation readings, coupled with the surge in crude oil prices, have further strengthened expectations of a rate increase. Traders were pricing in around a 90% chance of a quarter-percentage-point increase on Wednesday, with some market pricing putting the probability above 90%. (With inputs from agencies) Disclaimer: We advise investors to check with certified experts before making any investment decisions. Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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