U.S. stocks experienced a tumultuous session on Tuesday, September 29, 2026, amid rising long-term bond yields that have reached their highest levels in 24 years. The Dow Jones Industrial Average declined by 0.2%, and the S&P 500 fell by 0.1%, while the Nasdaq Composite remained nearly unchanged. The 30-year Treasury yield rose to 5.62%, marking a significant increase since 2002.
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Investor focus remained on the artificial intelligence sector as a leaked prospectus for Anthropic's impending IPO indicated the company is targeting a valuation of $2 trillion, while raising concerns regarding potential risks posed by AI technology. This report followed news that OpenAI has halted its frontier AI model due to safety issues from internal testing. As interest in the AI sector persists, pending public offerings from both companies are highly anticipated.
The IPO market, however, remains challenging, with health tech startup Oura postponing its scheduled IPO for Tuesday due to market uncertainties. Oil prices also saw fluctuations; Brent crude hovered near $96 per barrel, while WTI crude traded at $91 per barrel, influenced by renewed Saudi exports and ongoing geopolitical negotiations.
Economic indicators released on Tuesday further painted a concerning picture for the U.S. economy ahead of Friday's jobs report. Consumer confidence fell to 81.9, down from 88.6 the previous month, marking its lowest point since 2014. Job openings also decreased to 7.097 million in August, falling short of economists' expectations.
Despite the uncertainty in the markets, the bond sell-off has not yet led to dramatic declines in stock prices. The day concluded with the three major indices off their lows as the market remained vigilant regarding bond yield fluctuations and their implications for future trading.