Update: Dow Extends Losses Amid Surging Yields, Oil Prices

05:07 PM EDT, 09/24/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The Dow Jones Industrial Average fell for a third straight session on Thursday as bond yields and oil prices rose. The Dow closed 0.3% lower at 51,349.98. The S&P 500 and the Nasdaq Composite ended little changed at 7,704.13 and 26,939.37, respectively. Among sectors, materials, utilities and consumer staples saw the steepest declines, while communication services paced the gainers. Treasury yields were higher across the board, with the 10-year yield up 10.5 basis points at 5.22%, and the two-year yield rising 4.4 basis point to 4.94%. The 30-year yield hit the highest level since 2004 at 5.5%, CNBC reported. "Longer-end yields are now near the highest levels in decades," Stifel said Thursday in a note e-mailed to MT Newswires. The rally reflects "a number of longstanding issues, including dangerously high levels of inflation for years, a massive expansion of the government's balance sheet with total debt now surpassing $40 (trillion), and sizable corporate issuance offering direct competition for US Treasury bonds," the investment firm said. Three Federal Open Market Committee voters on Thursday signaled the need for a tighter monetary policy amid persistent price pressures. Those three regional Fed presidents are Anna Paulson, John Williams and Beth Hammack. Markets are pricing in a 71% probability that the Fed will lift interest rates again by 25 basis points in October, according to the CME FedWatch tool. US President Donald Trump is hosting Xi at the White House for a landmark state visit. On Wednesday, Treasury Secretary Scott Bessent said the two countries agreed to extend their trade truce by two months. US and Iranian negotiators were discussing a phased path out of war, with Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran, Reuters reported, citing sources close to the talks. West Texas Intermediate crude oil was up 3.4% at $95.30 a barrel in Thursday late-afternoon trade, while Brent advanced 4.3% to $107.55. Saudi Arabia intercepted six ballistic missiles fired by Yemen's Iran-backed Houthis on Thursday, Reuters separately reported. MGM Resorts International's (MGM) shares were the second-worst performer on the S&P 500, down 11%, after digital and print media company People (PPLI) late Wednesday withdrew its buyout proposal for the casino operator. People's shares edged down 0.1%. Darden Restaurants' (DRI) fiscal first-quarter revenue narrowly missed market expectations as comparable sales were weaker than expected, while the company affirmed its full-year outlook. The stock fell 3%. Spot gold edged down 0.5% to $4,265.26 per troy ounce, while silver lost 1.5% to $63.97 per ounce.