Economy / Markets
Wall Street slides as oil tops $90 and Treasury yields hit a 19-month high on US-Iran tensions
US stocks closed sharply lower on Tuesday 1 September 2026, with the Dow Jones Industrial Average down 419.02 points or 0.79% at 52,766.88, the S&P 500 off 54.67 points or 0.71% at 7,631.47 and the Nasdaq Composite down 271.11 points or 1.03% at 26,099.77. WTI crude jumped 5.2% to $90.22 a barrel and Brent rose 4.6% to $94.65 after US strikes on Iranian Revolutionary Guard targets, while the 10-year US Treasury yield reached about 4.79%-4.80%, the highest since January 2025, and CME FedWatch showed roughly a 68-70% probability of a September rate hike.