WORLD / AMERICAS
US stocks close lower as Treasury yields touch multi-year highs
By Xinhua Published: Oct 08, 2026 01:43 PM
A trader works on the trading floor of the New York Stock Exchange in New York City, the United States, Oct. 7, 2026. U.S. stocks closed lower on Wednesday as benchmark Treasury yields touched multi-year highs. (Xinhua/Liu Yanan)

A trader works on the trading floor of the New York Stock Exchange in New York City, the United States, Oct. 7, 2026. U.S. stocks closed lower on Wednesday as benchmark Treasury yields touched multi-year highs. (Xinhua/Liu Yanan)

US stocks closed lower on Wednesday as benchmark Treasury yields touched multi-year highs.

The Dow Jones Industrial Average fell 341.41 points, or 0.66 percent, to 51,179.87. The S&P 500 lost 17.16 points, or 0.22 percent, to 7,801.77. The Nasdaq Composite Index shed 61.20 points, or 0.22 percent, to 27,538.69.

Seven of the 11 primary S&P 500 sectors ended in the red, with industrials and materials leading the laggards by falling 2.14 percent and 1.53 percent, respectively. Meanwhile, health and consumer discretionary led the gainers by going up 1.06 percent and 0.15 percent, respectively.

U.S. Treasury yields touched multi-year highs before easing after a strong auction. The 10-year Treasury yield reached a high of 5.368 percent, its highest since 2002, but settled near 5.29 percent. The 30-year yield reached a fresh 24-year high before retreating to near 5.67 percent in late trading.

Oil prices settled lower on Wednesday. The West Texas Intermediate for November delivery dropped 1.16 U.S. dollars, or 1.3 percent, to 88.28 dollars per barrel, while Brent crude for December delivery lost 38 cents, or 0.38 percent, to settle at 100.2 dollars per barrel.

In corporate trading, Caterpillar led the Dow lower, dropping 5.75 percent after the Federal Trade Commission and the U.S. Department of Agriculture announced a public inquiry into farm-equipment markets. Deere also fell 3.8 percent. Skydance dropped 6.72 percent on its second day of trading since completing its merger with Warner Bros. Discovery.

Traders work on the trading floor of the New York Stock Exchange in New York City, the United States, Oct. 7, 2026. U.S. stocks closed lower on Wednesday as benchmark Treasury yields touched multi-year highs. (Xinhua/Liu Yanan)

Traders work on the trading floor of the New York Stock Exchange in New York City, the United States, Oct. 7, 2026. U.S. stocks closed lower on Wednesday as benchmark Treasury yields touched multi-year highs. (Xinhua/Liu Yanan)


A trader works on the trading floor of the New York Stock Exchange in New York City, the United States, Oct. 7, 2026. U.S. stocks closed lower on Wednesday as benchmark Treasury yields touched multi-year highs. (Xinhua/Liu Yanan)

A trader works on the trading floor of the New York Stock Exchange in New York City, the United States, Oct. 7, 2026. U.S. stocks closed lower on Wednesday as benchmark Treasury yields touched multi-year highs. (Xinhua/Liu Yanan)