Stock Market Update
28-Sep-26 14:00 ET
Gold Plunges 3.5% as Rising Yields, Dollar Weigh on Demand
Dow -210.54
at 51617.99,
Nasdaq -160.59
at 26929.17,
S&P -40.64
at 7702.87
[BRIEFING.COM] The tech-heavy Nasdaq Composite (-0.59%) is in last place on Monday afternoon, down about 160 points.
Gold futures settled $152.80 lower (-3.5%) at $4,168.40/oz, as higher oil prices stoke inflation concerns, pushing Treasury yields and the dollar higher while boosting expectations for another Fed rate hike. The combination of rising yields, a stronger dollar and fading hopes for an Iran breakthrough is weighing on demand for non-yielding gold.
Meanwhile, the U.S. Dollar Index is up just shy of +0.2% to $101.13.
