Dow Tumbles ~300 Points to Notch a Four-Day Losing Streak as Treasury Yields and Oil Prices Surge

US equities fell for a fourth straight session on September 9 as a combination of rising Treasury yields and surging oil prices weighed on sentiment ahead of the week's inflation data. The Dow Jones Industrial Average dropped roughly 300 points, extending a losing streak that began after the August jobs report reignited September rate-hike bets. The 10-year Treasury yield briefly ticked back above 4.8% as oil prices continued climbing on the unresolved US-Iran Gulf conflict, and touched its highest level since 2023 even after Treasury Secretary Scott Bessent unveiled a $6 billion bond buyback plan intended to support liquidity in longer-dated debt — a signal the move higher in yields was being driven by inflation and oil-supply concerns rather than a lack of demand for Treasuries. The combination of a hawkish Fed backdrop, an oil-driven inflation premium, and a widening US-Canada trade rift left risk assets on the defensive heading into Thursday's PPI report and Friday's CPI print.