US equities experienced a pullback on September 23–24, 2026, with the S&P 500 declining 0.75% to 7,706.03, the NASDAQ dropping 1.13% to 26,936.04, and the Dow Jones Industrial Average falling 0.68% to 51,511.59. The broader market decline coincided with a surge in Treasury yields and German Bund yields hitting multi-year highs, contributing to a global bond selloff that weakened stock futures and reinforced the dollar’s strength. Rising yields, driven by expectations of sustained monetary tightening, weighed on risk assets, while elevated inflation concerns—particularly from energy price volatility—further dampened sentiment across markets.
The US dollar index rose 0.57% to 96.78, while sterling fell 0.77% to $1.3241. The Canadian dollar gained 0.26% to 1.4105 CAD, and the Japanese yen rose 0.59% to 158.32 JPY. The Mexican peso strengthened 1.36% to 17.5277 MXN, while the euro lost 0.57% to $1.1386. Bitcoin also retreated, slipping below $85,000 after a jump in Treasury yields.
In corporate developments, SoftBank Group announced plans to raise $11.1 billion in senior notes to fund an OpenAI investment. Schneider Electric outlined a $1.4 billion bid for Shelly Group, while Siemens secured a $245 million order in Belgium. Meanwhile, the Arnault family solidified its control of LVMH through an ownership restructuring. Eli Lilly and InnoCare agreed to a deal valued at over $3 billion, and BHP suspended operations at its world’s largest copper mine following a worker fatality.
Central banks maintained cautious stances amid inflation risks. The Swiss National Bank (SNB) and the Riksbank held rates steady, while a Bank of England deputy governor signaled an increasing likelihood of a rate hike if energy prices persist. The European Bank for Reconstruction and Development noted Ukraine’s economy remains constrained by Black Sea and energy disruptions. In healthcare, Grail’s multi-cancer blood test received FDA committee approval for premarket clearance, while Hikma Pharmaceuticals appointed Rebecca Hall as CFO. Wells Fargo named Powell as its next Chief Risk Officer, and Meta showcased the Muse AI agent integrated with smartglasses. Barry Diller withdrew his bid for MGM Resorts, and the National Stock Exchange of India posted gains on its trading debut.
The market’s downturn underscored broader risk-off dynamics, with European equities also under pressure as traders assessed the implications of elevated yields and inflation pressures.
