Morgans AM
Tuesday 29 September 2026: A fresh jump in Treasury yields weighed on US equity markets
A fresh jump in Treasury yields weighed on US equity markets albeit the major averages settled off their session lows after CNN and Axios reported, citing White House officials, that President Trump was open to providing sanctions relief to Iran on nuclear matters – Dow fell -347-points or -0.67% . Boeing Co dropped -6.91% after the Federal Aviation Administration said it wouldn’t certify the aerospace giant’s 737 Max 10 until it assesses a new software glitch. Salesforce Inc (-2.88%), International Business Machines (IBM) Corporation (-2.15%), and Goldman Sachs Group Inc (-2.05%) fell over >2%. Nvidia Corp (up +1.68%) bucked the weaker trend among semiconductor stocks after the company announced plans to buy back an additional US$150B worth of its shares , the biggest-ever company share buyback and bringing the total value of its share repurchasing program to US$235B. Nvidia also unveiled an Open Agent Safety Platform “to strengthen AI security from agent testing to deployment.” The broader S&P500 lost -0.77% , logging its largest daily percentage drop since August settling in negative territory for the month-to-date (down -0.03%). Communication Services (down -1.67%) and Consumer Discretionary (-1.28%) fell over >1.5% to lead eight of the eleven primary sectors lower. Meta Platforms Inc dropped -4.79% after rallying +12.9% last week amid a series of announcements related to its personal AI agent Muse that was launched on 8 September and booking a five-week winning streak. Newmont Corp -4.43%
