Update: Equities Fall For Fourth Day as Traders Boost Rate Hike Bets

04:36 PM EDT, 09/10/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) Stocks on Wall Street dropped for the fourth session in a row on Thursday as interest rate traders boosted bets that the Federal Reserve could tighten its monetary policy next week. The Nasdaq Composite declined 0.7% to close at 26,081.72. The Dow Jones Industrial Average and the S&P 500 fell 0.6% each to 52,064.10 and 7,591.70, respectively. Barring communication services and consumer staples, all sectors ended in the red, led by materials. US producer prices rose at the fastest pace in three months in August amid higher fuel costs, official data showed Thursday. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks. Markets are now pricing in a 71% probability that the Fed will raise the benchmark lending rate by 25 basis points, up from 61% on Wednesday, according to the CME FedWatch tool. The remaining odds point to another Fed pause. The August consumer price index report is scheduled for release on Friday. West Texas Intermediate crude oil was up 6.9% at $102.65 a barrel in Thursday late-afternoon trade, while Brent surged 6.7% to $107.96. Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported. The Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption. US Treasury yields jumped, with the two-year rate up 14.4 basis points at 4.57% and the 10-year rate rising 11.4 basis points to 4.95%. Cooper Companies (COO) shares were the worst performer on the S&P 500, down nearly 15%. The medical device manufacturer's fiscal third-quarter results released late Wednesday showed sales missed Wall Street's estimates, overshadowing the earnings beat. It also lowered its full-year outlook. Apple (AAPL) rose 3.6%, the biggest gain on the Dow. The iPhone maker unveiled its first foldable smartphone Wednesday, entering a category currently led by Samsung. Apple is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, Morgan Stanley said in a note. Spot gold lost 1.7% to $4,322.11 per troy ounce, while silver slumped 6.5% to $64.20 per ounce.