Financial News September 28, 2026: Oil and Treasury Yields Pressure Stocks

U.S. stocks moved lower Monday as failed efforts to reopen the Strait of Hormuz lifted oil prices and pushed long-term Treasury yields toward multiyear highs. Nvidia rose after expanding its share-buyback authorization, while airlines, gold miners and much of Asia weakened.

By North American Talk Radio Staff | September 28, 2026

Market information is current as of approximately 2:45 p.m. Eastern on Monday, September 28. Monday’s U.S. stock, bond, oil, currency, precious-metals and cryptocurrency sessions were still underway. Friday’s U.S. closes and Monday’s completed European and Asian results are identified separately.

Wall Street retreated Monday as investors again confronted the combination that has dominated financial markets this month: expensive oil, restrictive interest rates and uncertainty over the war with Iran.

President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz, although mediators continued working toward renewed talks. Brent crude briefly climbed above $101 per barrel before paring most of the increase. The 10-year Treasury yield rose to approximately 5.24%, while the 30-year yield reached about 5.56%.

Those moves weighed on stocks, particularly airlines and other fuel-intensive companies. Nvidia bucked the decline after authorizing another $150 billion of share repurchases and introducing new security software designed to control autonomous artificial-intelligence agents.

Wall Street Falls as Oil and Bond Yields Rise

The S&P 500 was down about 0.6% during Monday afternoon trading. The Dow Jones Industrial Average had fallen approximately 222 points, or 0.4%, while the Nasdaq Composite was roughly 0.6% lower at 1:48 p.m. Eastern, according to The Associated Press market report carried by The Washington Post.

ETF prices near 2:45 p.m. reinforced the decline. The SPDR S&P 500 ETF was down about 0.6%, the Invesco QQQ Trust had lost roughly 0.9% and the SPDR Dow Jones Industrial Average ETF was off about 0.5%.

American Airlines fell approximately 2.4%, while United Airlines declined about 1.8%. Their losses reflected the direct cost pressure created by higher jet fuel prices. Newmont dropped more than 4% as gold fell sharply.

Nvidia gained about 2.3%. The chipmaker’s additional $150 billion repurchase authorization raised the remaining size of its buyback program to $235 billion. That support was not enough to lift the wider technology sector.

Friday’s Completed U.S. Market Results

Monday’s pullback followed a completed Friday rally. The S&P 500 rose 0.51% to 7,743.41, the Dow gained 478.64 points, or 0.93%, to 51,828.62, and the Nasdaq advanced 0.48% to 27,068.72. The Nasdaq gained 2.1% for the week, the S&P 500 added 1.2% and the Dow rose 0.3%.

Friday’s advance reflected optimism about U.S.–Iran diplomacy and a temporary easing in oil and bond yields. Monday’s reversal showed how quickly that assumption can change when negotiations stall.

Oil Retreats From an Early Spike

Brent crude initially rose above $101 Monday morning after the United States rejected Iran’s seven-day truce proposal. By early afternoon, the most actively traded contract had retreated toward $97.61, only about 0.2% above its previous close.

Separate Reuters pricing earlier in the global session showed Brent futures rising as much as 3% to $107.16. Differences between contract months and reporting times explain the varying quoted levels. The important market development was the same: oil surged when the diplomatic outlook deteriorated, then surrendered much of the move as mediators remained engaged.

Brent remains far above the roughly $72 per barrel recorded before the United States and Israel attacked Iran in late February. Regular U.S. gasoline averaged nearly $4.48 per gallon Monday, compared with $3.13 one year earlier, according to AAA figures cited by the AP.

Treasury Yields Return to Pre-Crisis Levels

The 10-year Treasury yield climbed to approximately 5.24% from 5.17% late Friday. The 30-year yield rose to about 5.56% from 5.49%. Those levels were last broadly associated with 2007 and 2004, respectively.

Higher yields raise mortgage, auto-loan and corporate-financing costs. They also make government bonds more competitive with stocks and gold. Two-year Treasury yields have increased about 55 basis points during September as traders position for further Federal Reserve tightening.

Markets placed roughly a 68% to 70% probability on another quarter-point Fed increase in October. This week’s Personal Consumption Expenditures inflation report and Friday employment report could materially alter that outlook. Charles Schwab’s September 28 market outlook noted that a firm inflation reading or strong payroll growth could add to pressure on yields.

Europe Finishes Flat; Asian Markets Fall

The STOXX Europe 600 completed Monday’s session essentially unchanged at 638.68. Germany’s DAX slipped 0.1% to 25,374.42, while France’s CAC 40 finished flat at 8,078.48.

European oil and gas shares gained 0.8%, but basic-resource stocks fell 1.3% as gold, copper and mining companies weakened. British homebuilders rallied after the government introduced a program offering qualifying first-time buyers a 2.5% deposit and a government-backed equity loan worth 20% of a new home’s price. Sharecast published the completed European closing figures.

Asian markets were weaker. Chinese blue chips fell 1.9% to a one-year low after U.S. lawmakers proposed barring Chinese-made data-transmission components from sensitive federal AI systems. South Korea’s benchmark dropped 2.7%, while Shanghai declined 1.7%.

Dollar Strengthens, Gold Sinks and Yen Rebounds

The U.S. Dollar Index reached a two-month high near 101.39 and remained on course for its strongest monthly performance since June. The euro traded around $1.1383 and had lost about 2% during September.

The yen strengthened after Japan’s top currency diplomat warned against excessive depreciation. The dollar slipped about 0.3% to 156.83 yen.

Gold fell approximately 3% to $4,151 per ounce during the global session and was down nearly 7% for September. The stronger dollar and higher Treasury yields reduced demand for bullion, which pays no interest.

Bitcoin Slips Below $84,000

Bitcoin traded near $83,995 at approximately 2:45 p.m. Eastern, down about 0.9% from its previous close. It moved between roughly $82,598 and $84,926 during the session.

Cryptocurrency remained sensitive to the same pressure affecting technology stocks and gold. Rising real yields increase the opportunity cost of owning assets that produce no contractual income, while geopolitical instability can provide only inconsistent defensive demand.

Nvidia Buyback and MongoDB CEO Exit Lead Corporate News

Nvidia’s expanded repurchase program and AI-agent security platform made it Monday’s most consequential corporate story. The announcement demonstrated the company’s cash-generating strength while directly addressing concerns that autonomous AI systems can escape intended controls.

MongoDB fell about 17.2% after announcing that chief executive Chirantan “CJ” Desai would leave immediately to take a senior position at Meta Platforms. The abrupt transition added company-specific uncertainty during an already difficult session for software and other growth shares.

Elsewhere, Zymeworks held an investor call after completing its acquisition of Theravance Biopharma on September 23. The transaction makes Theravance a wholly owned Zymeworks subsidiary, according to the company’s official announcement.

Saudi Stocks Finish Sunday Higher

Saudi Arabia’s Tadawul All Share Index completed Sunday’s session 0.8% higher at 10,681.84. Al Rajhi Bank gained 2.5%, Saudi National Bank rose 2.3% and Saudi Aramco added 0.2%. The completed Gulf result preceded Monday’s renewed rise in oil and yields.

Financial Market Outlook

Monday’s trading reinforced the market’s dependence on both diplomacy and economic data. An agreement that restores reliable tanker traffic through Hormuz could lower oil prices and ease inflation fears. Continued stalemate would keep fuel costs elevated and strengthen the case for additional central-bank tightening.

• Tuesday’s Reserve Bank of Australia decision.
• Wednesday’s U.S. PCE inflation report.
• Friday’s September employment report.
• Any new U.S.–Iran negotiating framework for Hormuz.
• Whether the 10-year Treasury yield remains above 5.2%.
• Micron and Nike earnings later this week.

The immediate market problem is no longer simply high oil or high yields. It is the possibility that both remain elevated long enough to reshape consumer spending, corporate financing and the Federal Reserve’s rate path.