Market Close: Stocks Fall As Oil Hits Highest Since May, Mortgage Rates Hit 7% • 9/10/26
U.S. stock markets closed lower on Thursday, September 10, 2026, with the Dow Jones Industrial Average falling 316 points, the S&P 500 down 44 points, and the Nasdaq composite off 171 points. This decline occurred as West Texas Intermediate crude oil prices surged back over $100 a barrel for the first time since May, contributing to a near 30-cent increase in gasoline prices over the past month. Additionally, 30-year fixed mortgage rates climbed back above 7% for the first time since May 2025.
The rise in oil prices and mortgage rates signals potential for increased inflation and continued pressure on consumer spending and the housing market, impacting both individuals and broader economic stability.
The video also discussed existing home sales falling in August, producer price index data, and the upcoming consumer price index report.
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