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US stocks decline as 10-year yield reach a 19-year high ahead of Fed rate decision

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

2 min read | Updated on September 16, 2026, 07:58 IST

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SUMMARY

The Dow Jones Industrial Average slipped 328 points to 52,093.11, while the S&P 500 fell 0.45% to 7,585.73. The NASDAQ Composite index dropped 0.78% to 25,981.57.

Coinbase Global (-10.10%), Amazon (-2%), Microsoft Corporation (-1.64%) and Alphabet Class A (-1.26%), among others, were major laggards. | Image: Shutterstock

Coinbase Global (-10.10%), Amazon (-2%), Microsoft Corporation (-1.64%) and Alphabet Class A (-1.26%), among others, were major laggards. | Image: Shutterstock

The US markets ended in negative territory on Tuesday as Treasury yields surged to multiyear highs as investors are looking forward to the Fed's policy decision this week.

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The Dow Jones Industrial Average slipped 328 points to 52,093.11, while the S&P 500 fell 0.45% to 7,585.73. The NASDAQ Composite index dropped 0.78% to 25,981.57.

Coinbase Global (-10.10%), Netflix (-3%), Nike (-2.24%), Amazon (-2%), McDonald's Corp (-1.82%), Microsoft Corporation (-1.64%) and Alphabet Class A (-1.26%), among others, were major laggards.

Ahead of the Federal Reserve's policy decision on Wednesday, the 10-year Treasury yield rose to its highest level since 2007, climbing 5.041%. It later dropped 3 basis points to 5%.

Brent Crude, the international standard, was down 0.23% to $108.50 per barrel. The West Texas Intermediate descended 0.60% to $105.19 a barrel.

Oil prices remained inflated for the past few days as Saudi Arabia shut a key pipeline following drone attacks. The company has also reportedly informed its clients that some September oil deliveries are cancelled.

ALSO READ | Will US Federal Reserve raise key interest rates for the US economy? Here’s what investors should know

The artificial intelligence stocks rose on Tuesday after facing pressure in the previous trading session. Advanced Micro Devices (AMD) shares gained 2.19% to $504.20, while Qualcomm Inc added 4.35% to $187.80. Coherent Corp stock advanced 1.75% to $271.17.

Marvell Technology and Arm Holdings also rose 1.32% and 1.18%, respectively.

AI stocks witnessed a selloff on Monday as major model creators advocated a more disciplined approach to AI development and spending.

Bank of America, in a note, according to CNBC, said that the potential of AI rises with its risk. "If the frontier labs truly believe AI (artificial intelligence) is powerful enough to pose an existential threat, then it must also be powerful enough to solve some of humanity’s largest problems," Benjamin Bowler said in a Tuesday note to clients.

"AI's potential is rising as fast as its risks, motivating the need for risk-managed upside exposure to US equities," he added.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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