Yields Surge, Geopolitics Hammer Wall Street as September Curse Bites

Wall Street stumbled into September with a nasty combination of rising bond yields and geopolitical jitters. The 10-year Treasury yield hit 4.814%, its highest since November 2023, as renewed U.S.-Iran hostilities in the Strait of Hormuz sent crude oil surging to $90.64 per barrel. The Dow Jones Industrial Average fell more than 400 points on Tuesday, and the pain hasn't let up. Global bond yields are spiking in tandem — Japan's 10-year broke above 3% for the first...