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Today's Top Business / Market Headlines — Tuesday, September 29, 2026:

1. Wall Street Falls to Start Week as Yields Surge:

•Major stock indexes fell on Monday, as oil edged higher and Treasury yields extended their recent rise ahead of more expected interest-rate hikes

•The S&P 500 fell 59.72 points, or 0.8%, to 7,683.69 and the Nasdaq Composite fell 248.34 points, or 0.9%, to 26,820.38. The Dow Jones Industrial Average fell 0.7%

•Alternate summary: The S&P 500 fell 0.8% to 7,683.69, while the Nasdaq Composite dropped 0.9% to 26,820.38. The Dow Jones Industrial Average declined 0.7%

•Wall Street ended lower on Monday as rising Treasury yields revived concerns over further Federal Reserve rate hikes

•MSCI's gauge of stocks across the globe fell 8.76 points, or 0.76%, to 1,139.47. The pan-European STOXX 600 index ended flat

2. Treasury Yields Hit Multi-Year Highs on "Higher for Longer" Fed Bets:

•Yields on 30-year Treasury bonds hit their highest levels since mid-May 2004, while 10-year Treasury yields touched their highest since mid-June 2007 before paring gains

•The 30-year yield rose to 5.5704% from 5.502% on Friday, while the 10-year yield climbed 6.98 basis points to 5.251%

•Markets now imply a roughly 70% chance the Fed will hike for a second straight meeting in October, according to CME FedWatch. The Fed raised rates earlier this month for the first time since 2023

•Markets are also pricing in a roughly 70% chance that the Fed will raise interest rates again in October following its rate increase earlier this month, its first since 2023

•Market narrative quote: "Right now the market narrative is about higher yields for longer and that is putting pressure on equities," said Oliver Pursche, senior vice president and advisor for Wealthspire Advisors

3. Oil Volatile on Iran / Strait of Hormuz Tensions:

•Oil prices gave back some earlier gains, with Qatari mediators set to hold talks with both the US and Iran to try to broker an elusive peace agreement in the seven-month-old US-Israeli war on Iran

•At one point Monday, oil prices were up more than $4 a barrel after US President Donald Trump rejected a proposal from Iran that would reopen the crucial Strait of Hormuz

•Oil prices had risen more than US$4 a barrel earlier in the session after US President Donald Trump rejected an Iranian proposal that would have reopened the Strait of Hormuz

•Prices later pared those gains as Qatari mediators prepared to hold talks with both the US and Iran over a possible agreement. US crude settled 19 cents higher at US$92.60 a barrel while Brent gained 96 cents to US$105.28

•U.S. crude rose 19 cents to settle at $92.60 a barrel and Brent gained 96 cents to settle at $105.28

4. Corporate Movers:

•Nvidia (NVDA): Nvidia rose 1.7%, closing off earlier highs after the chipmaker boosted its share buyback authorization by a record $150 billion, eclipsing Apple's $110 billion plan it set out in 2024

•Nvidia's (NVDA) Board of Directors has authorized a USD 150bln increase to the share repurchase program, raising the remaining total program to USD 235bln

•NVIDIA’s Board has authorized an additional $150 billion for the company’s existing share repurchase program, bringing the remaining authorization to $235 billion - largest in history, through fiscal 2028.

•Merck: Merck (MRK) and SciBrunch Therapeutics Co announced that they have entered into an exclusive global license agreement for SPR2015, an investigational preclinical oral KRAS G12D (ON) inhibitor

•Boeing (BA): $BA dropped 7% to a 2026 low on reports the FAA is delaying certification of the 737 MAX 10

5. Government Shutdown & Futures:

•Dow Jones Top Markets Headlines at 9 PM ET: Stock Futures Mostly Unchanged Ahead of Trump's Shutdown Talks

•Prediction markets are tilting slightly in favor of a government shutdown happening

•US stock futures held steady with Wall Street worried a government shutdown could begin as soon as Wednesday

6. Other Market Signals:

•Gold prices fell. Spot gold fell 3.61% to $4,131.53 an ounce

•US dollar strengthened: euro down 0.21% at $1.1367. Against the Japanese yen, the dollar strengthened 0.11% to 157.43 - Japan's top currency diplomat Atsushi Mimura warned against excessive yen weakness

•Australia: Australian shares had a softer week, with the S&P/ASX 200 easing 0.9% as investors weighed the possibility of further RBA rate increases alongside higher oil prices and bond yields

•Australian shares are set for a subdued start, with S&P/ASX 200 futures up just 1 point at 8,721. The local market faces pressure from rising global bond yields

•UK: UK shop price inflation slows to 1.4% in September

Markets are watching this week's September US payrolls report and the monthly personal consumption expenditures price index (PCE) for further clues on Fed policy.

Citations (2)

1devdiscourse.comNews and media
GLOBAL MARKETS-Stocks fall; oil prices off highs amid renewed hopes for Middle East negotiations
Backs: “Today's Top Business / Market Headlines — Tuesday, September 29, 2026: 1. Wall Street Falls to Start Week as Yields Surge: Major stock indexes fell on Monday, as oil edged higher and Treasury yields extended their recent rise ahead of more expected interest-rate hikes”
2businesstoday.com.myNews and media
Wall Street Slides On Higher For Longer Rate Fears
Backs: “Alternate summary: The S&P 500 fell 0.8% to 7,683.69, while the Nasdaq Composite dropped 0.9% to 26,820.38.”