Bitcoin on the Edge: Are There Enough Buyers? 15/09/2026
Market Wrap
U.S. stocks fell on Monday as surging Treasury yields, higher oil prices and renewed weakness in AI-related shares weighed on sentiment ahead of the Federal Reserve's policy decision later this week.
The Dow Jones Industrial Average dropped 152 points, or 0.3%. The S&P 500 declined 0.5%, while the Nasdaq Composite lost about 0.6%.
Bond yields remained a major source of pressure.
Oil added another layer of uncertainty after Saudi Arabia shut a key pipeline that bypasses the Strait of Hormuz. Brent crude settled above $105 a barrel, while West Texas Intermediate closed above $101, with prices extending their gains early Tuesday.
AI-related stocks were among the hardest hit. Nvidia (NVDA) dropped 3%, Corning (GLW) tumbled 13% and the iShares AI Innovation and Tech Active ETF (BAI) fell nearly 4% as higher borrowing costs weighed on high-growth technology shares.
Stock futures moved lower early Tuesday as Treasury yields continued to climb. With the Federal Reserve meeting approaching, investors are increasingly focused on whether persistent inflation, elevated oil prices and rising bond yields will push policymakers toward another rate increase.
Oil and Treasury Yields Move in Lockstep, Raising Risks for Markets
Oil prices and U.S. Treasury yields are moving together at their closest pace in seven years, creating a potentially dangerous combination for equities, businesses and consumers.
The one-month correlation between West Texas Intermediate crude and the 10-year Treasury yield has surged to 0.96, according to BMO Capital Markets — the strongest positive relationship since 2019.
The unusually tight link means further gains in oil could transmit more directly into financial markets. Higher energy costs can fuel inflation expectations, push Treasury yields higher and increase borrowing costs, potentially forcing the Federal Reserve to keep monetary policy tighter for longer.
Equities are particularly vulnerable. Higher yields reduce the relative appeal of stocks and pressure valuations, while elevated energy costs squeeze corporate margins. Growth and technology companies face an additional challenge because their valuations are especially sensitive to higher discount rates.
Some strategists warn the Fed may face more than a single rate increase if oil continues climbing and inflation expectations remain elevated, raising the risk of a broader tightening cycle.
Consumers could also face a double hit as higher energy costs raise everyday expenses while rising Treasury yields feed into mortgages, auto loans and other borrowing costs.
The relationship may not last, however. Strategists caution that the unusually high correlation could unwind quickly if geopolitical tensions ease or concerns about economic growth begin to dominate markets.
Stocks on the Move
- Mara Holdings (MARA): Shares fell 2% after JPMorgan double-downgraded the stock to underweight from overweight, arguing that competitors offer more direct exposure to data-center growth and value creation.
- Rumble (RUM): Shares surged 18% after The Information reported that Anthropic reached a six-year, $13.7 billion agreement with the AI infrastructure and video company to provide computing power.
- Chip Stocks: AI-related semiconductor stocks came under pressure after Anthropic CEO Dario Amodei and other senior industry executives called for a slower pace of AI development. Nvidia (NVDA) fell nearly 3%, Intel (INTC) and Advanced Micro Devices (AMD) dropped about 4% each, while Marvell Technology (MRVL) slid almost 6%.
- Roblox (RBLX): Shares jumped more than 11% after the gaming platform unveiled new capabilities at its developer conference, including AI-powered tools designed to improve accessibility and expand features for creators.
Watchlist: USO, COIN, NVDA, META, MSFT, CRWD, MU, AMD, PANW, GOOGL
Key Economic Events Today
Economic Data (EST)
- 08:15 AM — ADP Weekly Employment Change
- 08:30 AM — USD Empire State Manufacturing Index
Earnings
Before Market Open: Forgent Power Solutions (FPS), Vera Bradley Inc. (VRA)
After Market Close: Trip.com (TRIP)
