At 11:37 a.m. ET Sept. 24, the S&P 500, Nasdaq and Dow were down 0.48%, 0.77% and 0.71% amid a bond sell-off; the 10-year Treasury yield reached 5.16%. Oracle fell nearly 5% after reports it invoked force majeure in connection with a New Mexico data-center project.
Technology and basic-materials shares declined, while energy and communication services had the biggest gains. Meta rose after debuting Meta VR glasses and a new handheld device that works with its recently launched Muse AI agent; UPS fell after an analyst downgrade.
The 30-year Treasury yield reached its highest level in more than two decades. The article cited inflation fears, geopolitical uncertainty, the AI boom and national debt as factors pushing yields higher, and noted that higher rates make mortgages and other loans more expensive. A JPMorgan global investment strategy co-head said equities could continue climbing, arguing high yields may reflect a growing economy that needs capital. The article said companies with strong fundamentals may still meet and exceed expectations in 2027.
