[New York Stock Market] Brent Crude Surges Past $100 After U.S. Strikes Iranian Oil Tankers... All Major Indices Fall

Brent Crude Topping $100 Once Again
Focus on Treasury Buyback Announcement

On September 9 (local time), all three major U.S. stock indices on the New York Stock Exchange were trading lower amid concerns that escalating tensions between the United States and Iran could result in additional disruptions to Middle Eastern oil supplies. As international oil prices rise, there are concerns that higher inflation could increase the likelihood of monetary tightening, significantly reducing investors' appetite for risk assets.

As of 10:25 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was trading at 52,392.05, down 394.02 points (0.75%) from the previous session. The large-cap S&P 500 Index was trading at 7,644.80, a decrease of 28.72 points (0.37%), while the tech-heavy Nasdaq Index stood at 26,302.13, down 119.27 points (0.45%).

The market was facing increased downward pressure on this day as worries over inflation escalated due to surging international oil prices. The U.S. Central Command said it had attacked five additional Iranian oil tankers in retaliation for attacks by Iran on U.S. Navy vessels the previous day.

Kenny Polcari of SlateStone Wealth commented, "Tensions have ratcheted up again," adding, "The risk premium is being clearly reflected, and the threat of energy supply disruption in the Gulf region is a real concern."

International oil prices surged. On the ICE Futures Exchange, Brent crude for November delivery was recording $100.60 per barrel, up 2.74% from the previous session. This marks the first time since July that Brent crude has exceeded $100. On the New York Mercantile Exchange, October delivery West Texas Intermediate (WTI) was also up 2.74% from the previous session, trading at $95.58 per barrel.

There remains a sense of caution that rising oil prices could reignite inflation. The yield on the 10-year U.S. Treasury note exceeded 4.8%—a key market threshold—during intraday trading the previous day. However, the 10-year yield is moving sideways today.

Kara Murphy, Chief Investment Officer at Kestra Investment Management, told CNBC, "The market has hit something of a speed bump," adding, "With fewer catalysts on the corporate earnings front, investors' focus has shifted toward risks."

Treasury Secretary Scott Bessent is expected to announce the scale of buybacks (Treasury purchases) targeting 10- to 20-year Treasuries today. The Treasury Department has previously indicated it will at least double the maximum purchase amount per auction in this segment from the previous $2 billion.

This content was produced with the assistance of AI translation services.