US Market Close | Nasdaq Futures Fall 0.93% as Global Bond Selloff Deepens

Global stocks weakened at the start of September as rising oil prices pushed bond yields higher and reinforced bets that major central banks may raise rates this month. According to Sina Finance, futures for the Dow Jones Industrial Average fell 0.48%, S&P 500 futures dropped 0.43%, and Nasdaq futures declined 0.93%. The selloff in bonds intensified as traders worried about oil-driven inflation, tighter monetary policy, and worsening fiscal conditions. According to Sina Finance, Brent crude rose above $92 a barrel as energy transport through the Strait of Hormuz remained disrupted, while Marisks said two large tankers were hit by unidentified projectiles while passing through the strait. Yields climbed across major markets, with Japan's 10-year government bond yield rising to 3%, its highest since September 1996. According to Sina Finance, U.S. 10-year Treasury yields reached their highest level since January 2025, while 30-year Treasury yields stayed above 5% and have remained there for the longest stretch since 2006. Gold also fell sharply, with spot gold down 1.76% to $4,370 and touching its lowest level since August 19 at $4,365. According to Sina Finance, Saxo Bank analyst Ole Hansen said rising global bond yields since Kevin Warsh's hawkish remarks last Friday have added further downward pressure on gold prices.