Brent at $92 and rising government bond yields weighed on U.S. stocks. The Nasdaq 100 lost more than 1%

Major U.S. stock indices opened lower on the first day of September. Oil prices, which jumped by more than 2%, and U.S. Treasury yields, which continued to rise, put pressure on technology stocks, according to Bloomberg.

Against this backdrop, the Nasdaq 100 technology index (which tracks the performance of the 100 largest companies on the Nasdaq exchange) fell 1.3% and is on track for its worst day in two weeks, the agency notes. The S&P 500, a broad U.S. market index, lost 0.56%, while the Dow Jones Industrial Average, an index of blue-chip stocks, fell 0.4%.

Among other factors, U.S. stocks came under pressure from oil prices, which rose by more than 2%: November Brent futures hit an intraday high of $92.84 per barrel, while WTI futures are trading above $88 (up more than 3% from the previous close). Traders are reacting to reports of attacks on two supertankers in the Strait of Hormuz. According to the consulting firm Marisks, the Saudi vessel Sidr and the Senegalese vessel Prosperity sustained damage while attempting to leave the Persian Gulf, MarketWatch reports.

The sell-off is also continuing in the U.S. bond market: On September 1, the yield on 10-year Treasuries rose another 1 basis point to 4.776%, reaching its highest level since January 14, 2025, according to CNBC.

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