Oil Surges, Yields Rally as Stocks Slip into September

U.S. equities faded as oil jumped above $95 a barrel and long‑term bond yields rose, rekindling expectations for higher rates and a tougher macro backdrop. The Dow, S&P 500, and Nasdaq declined, while oil gains were driven by Middle East tensions and the Strait of Hormuz. Traders also parsed July JOLTS data and ISM manufacturing for hints on the economy ahead of Friday’s payrolls report, keeping sentiment cautious into the historically volatile September.