NEW YORK, September 1, 2026, 12:00 EDT
- The Nasdaq Composite fell 0.48% at midday, having started the session down 1.29%.
- The Nasdaq rose 0.24% during the last hour, while the Dow remained nearly unchanged.
- Apple gained 3.01%, as the equal-weight S&P 500 proxy declined 0.57%.
- Brent was steady at $92.64, while the yield on the 10-year Treasury remained at 4.768%.
By midday, the Nasdaq Composite had narrowed its initial decline by over 50%. At 12:00 EDT, it was lower by 0.48% at 26,243.43. Shares of Apple Inc. NASDAQ:AAPL rose 3.01%, while NVIDIA Corporation NASDAQ:NVDA pared losses to 0.18%.
The recovery was limited. As of 11:00 EDT, the Nasdaq advanced 0.24%. In comparison, the Invesco S&P 500 Equal Weight ETF NYSEARCA:RSP edged down 0.06% during that period.
The S&P 500 was down 0.34% at 7,660.16, despite rising 0.11% in the final hour of trade. The Dow fell 0.40% and showed little change following 11:00 EDT.
Early selloff gives way to a partial recovery
Change from the previous close, in percent
- S&P 500: -0.34%
- Nasdaq: -0.48%
- Dow: -0.40%
As of . One-minute closes; first point is 09:30 EDT. Source: Yahoo Finance. Calculations by TS2.
U.S. stocks slid at the open, pressured by rising oil prices and higher bond yields. The Nasdaq dropped 1.29% at the start of trading, and the S&P 500 was down 0.66%.
Session loss versus the preceding 60 minutes
As of September 1, 2026, 12:00 EDT. Source: Yahoo Finance one-minute data. Calculations by TS2.
Crude prices and yields continued to cap gains. WTI traded at $88.32, higher by 2.99% at 11:54:20 EDT. Brent rose 2.38% to $92.64 as of 11:54:06 EDT. The 10-year Treasury yield was at 4.768% at 11:49:14 EDT.
The impact of the energy shock was felt outside of producers. According to the Associated Press, around 20% of the world’s oil typically passes through the Strait of Hormuz. The conflict between the U.S. and Iran had mostly shut down the vital passage.
Oil and rates keep the discount-rate squeeze alive
Latest verified observations before noon. Source: Yahoo Finance; bond-market context: Associated Press.
New factory figures maintained those worries. The ISM prices index remained at 71.1. Survey chair Susan Spence stated, “The Manufacturing PMI registered 54.6 percent in August, 1 percentage point below the July figure.” ISM
Labor demand remained subdued. Job openings in July stood at 7.3 million, showing minimal movement. Hires and separations were both close to 5.1 million.
By midday, defensive sectors were in front. Consumer staples were up 0.94%, health care increased 0.51%, and utilities climbed 0.44%. Industrials and consumer discretionary both declined approximately 1.17%.
Defensives lead; cyclicals and technology lag
Select Sector SPDR ETF change from the previous close
As of September 1, 2026, 12:00 EDT. Source: Yahoo Finance intraday quotes. Calculations by TS2.
Apple provided the strongest support to the index after John Ternus was named chief executive. His succession became effective Tuesday. Apple Advanced Micro Devices, Inc. NASDAQ:AMD was still off 2.33% by midday. Axon Enterprise, Inc. NASDAQ:AXON dropped 9.35%, ranking among the top decliners on the S&P 500.
The upcoming employment report on Friday is the next significant gauge. The Federal Reserve faces a decision between resilient factory prices and stable labor demand. This combination held long-term yields close to 4.8% on Tuesday.
Risks: A renewed surge in oil prices or yields may halt the technology sector’s recovery. Broader market gains are needed for a sustained shift, extending beyond just the leading stocks.
Related articles: NASDAQ:NVDA
