Energy Rises as Oil Tops $90, Market Wider Sees Sell-Off

NEW YORK, August 31, 2026, 18:00 EDT

The S&P 500 declined by 0.33% to close at 7,686.14, while the Dow slipped 374.09 points.
Brent crude rose 2.7% to $90.49, and the yield on the 10-year Treasury climbed to 4.75%.
Between 17:00 and 18:00 EDT, there was no movement greater than 0.06% among four major index ETFs.

U.S. equities ended down on Monday as Brent crude climbed back above $90, heightening worries about inflation and interest rates. Losses were spread across the major indexes but remained modest.

This mix is significant for investors. Energy stocks climbed alongside crude, as the bulk of losses hit rate-sensitive and regulated sectors.

No significant increase in pressure was observed over the prior hour. Between 17:00 and 18:00 EDT, liquid index ETFs fluctuated by fewer than six basis points, according to one-minute Yahoo Finance data. Closing levels remained mostly stable.

Regular-session move and the final aftermarket hour

As of Aug. 31, 2026, 18:00 EDT

SPY · S&P 500−0.30%

QQQ · Nasdaq-100+0.05%

DIA · Dow−0.65%

IWM · Russell 2000−0.62%

Regular returns use the 16:00 close versus the prior close. Last-hour values use the latest quote at or before each endpoint. Sources: SPY, QQQ, DIA and IWM; calculations by TS2.

The S&P 500 declined by 25.62 points, ending at 7,686.14. The Dow dropped 374.09 points to close at 53,185.90, and the Nasdaq Composite edged down 0.12% to finish at 26,370.89 AP closing levels.

Brent climbed 2.7%, closing at $90.49 per barrel, while the 10-year Treasury yield increased to 4.75%, tying the oil spike to discount-rate concerns AP market report.

Futures on interest rates reflected over a 65% probability of a quarter-point hike in September. “The odds now favor a rate hike in September,” Chase Investment Counsel President Peter Tuz told Reuters.

Oil created a sharp sector split

Liquid sector-ETF returns at the regular-session close

Sources: Yahoo Finance closing data for XLE, XLK, XLY and XLU; returns calculated from prior close.

Exxon Mobil NYSE:XOM climbed 2.7%, while Chevron NYSE:CVX added 2.1%. Their gains mirrored crude’s move, making energy the standout sector of the session.

Utilities faced a distinct policy shock. Shares of Edison International (NYSE:EIX) fell 23.1%, and PG&E NYSE:PCG declined by 20.1% after wildfire-liability legislation in California failed to meet investor expectations AP.

GameStop NYSE:GME gained 2.9%. The company announced it would use cash for approximately 27% of a proposed $1.4 billion debt exchange, which would lower potential dilution Reuters.

Breadth confirmed the selloff

Regular-session market internals, August 31

Preliminary close data. Source: Reuters. NYSE ratio is normalized to 100 advancing issues for comparison.

On the NYSE, decliners led advancers by a ratio of 1.95-to-1, while on the Nasdaq, the ratio was 1.58-to-1. Volume on U.S. exchanges totaled 15.65 billion shares, which was 0.4% higher than the 20-day average.

The July JOLTS data and August manufacturing PMI are scheduled for release on Tuesday at 10:00 EDT. The August jobs report is set for Friday at 08:30 EDT BLS schedule; ISM calendar.

Risks: Light trading volumes typical of late summer may amplify end-of-day swings. New developments in oil, shifts in policy or company news released outside regular hours have the potential to counter Monday’s signals.

The subdued last hour indicates investors have absorbed the closing price surprise. However, lackluster breadth and a 4.75% Treasury yield keep Tuesday’s start vulnerable to movements in crude oil and employment data.