NY Stocks Trim Losses as 10-Year Yield Nears 5%

Right now the S&P 500 sits at 7,604.24, down 0.69%, and the Nasdaq's at 26,113.63, off 0.83%, with about four hours and fifty minutes left before the close. That's actually a bit better than my last check-in at 22:40 — the S&P clawed back 0.07 points and the Nasdaq 0.42 points. Losses were steeper right at the open, so the market's been quietly digging in a floor through the morning.

Behind today's slide are AI jitters tangled up with rising oil prices. On top of that, the 10-year Treasury yield touched 5% — a psychological line it hadn't crossed since October 2023 — after August's CPI came in at 3.4%, hotter than the Fed's target, and lit a fire under rate worries. Sector-wise, AI names and copper/mineral plays are soft while cybersecurity stands out as the lone bright spot, and the risk-off mood carries over from Korea's rough session (Sept 14 close: KOSPI -3.26%, KOSDAQ -1.69%).

For the rest of the session I'm watching whether that 10-year yield keeps climbing past 5% and whether this morning's loss-trimming holds through the close. As for my own book, Isu Petasys (-14.6%), Amazon (-11.7%), Alphabet (-7.7%), and HD Hyundai Electric (-7.2%) — those are just the standing unrealized marks, nothing about today's move, nothing about what's next.