US Equity Indexes Fall as Treasury Yields Rise

12:44 PM EDT, 09/24/2025 (MT Newswires) -- US benchmark stock indexes traded lower while government bond yields rose in midday trading on Wednesday.

The Nasdaq Composite was down 0.5% to 22,465.7, the S&P 500 slid 0.3% to 6,634.2, and the Dow Jones Industrial Average fell 0.2% to 46,205.3. Energy led the gainers, while materials and technology were the steepest decliners intraday.

The US 10-year Treasury yield rose 2.1 basis points to 4.14%. The two-year rate rose 2.8 basis points to 3.60%.

In economic news, US new-home sales jumped by 20.5% to an 800,000 annual rate in August from an upwardly revised 664,000 annual rate in July, compared with a decrease to a 650,000-rate expected in a survey compiled by Bloomberg.

Mortgage applications rose by 0.6% in the week ended Sept. 19 due to a further decline in 30-year fixed mortgage rates to their lowest point since September 2024, according to Mortgage Bankers Association data.

In company news, Alibaba Group (BABA) plans to increase its spending on artificial intelligence development as the Chinese e-commerce giant looks to become a "full-stack AI service provider," news outlets reported, citing Chief Executive Eddie Wu. Alibaba (BABA) shares were up over 8%.

Freeport-McMoRan (FCX) shares fell over 13% after the company said it is notifying commercial counterparties of a force majeure due to the Sept. 8 mud rush incident at its Grasberg Block Cave mine in Indonesia that resulted in the death of at least two people.

The ICE US Dollar Index was up 0.7% to 97.90.

West Texas Intermediate crude oil rose 2.1% to $64.75 per barrel.

Gold was down 1.2% to $3,769.90 an ounce, and silver declined 1.1% to $44.11 per ounce.

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