US Equity Indexes Mixed as Treasury Yields Surge After IEA Unveils Plan to Release Record Stockpiles

01:22 PM EDT, 03/11/2026 (MT Newswires) -- US equity indexes were mixed as government bond yields rose around midday Wednesday after fighting between Iran and Israel reportedly intensified, outweighing plans unveiled by the International Energy Agency to release record crude oil reserves.

The Nasdaq Composite rose less than 0.1% to 22,702.6, while the S&P 500 fell 0.2% to 6,770.8 and the Dow Jones Industrial Average declined 0.7% to 47,372.8.

Energy, technology, and communication services were the only gainers, while consumer staples and financials led the decliners.

Iran claimed it launched its "heaviest operation" since the war began, CNN cited state media reports, as interceptions were reported across Gulf states and Israel, which said it had begun an "additional wave" of strikes in Tehran on Wednesday.

A senior commander in Iran's Islamic Revolutionary Guard Corps claimed Iran has missiles that can be launched from underwater and suggested they could be used in the coming days, a separate CNN report said.

"We have missiles that are launched from underwater, and their speed is 100 meters (328 feet) per second. We may use them in the coming days," Iranian official media quoted Ali Fadavi, a senior IRGC commander, as saying, according to CNN.

West Texas Intermediate crude oil futures jumped 3.8% to $86.58, after trading lower earlier in the session.

US Treasury yields were higher, with the 10-year yield soaring 7.4 basis points to 4.22%, clawing back all of its intraday declines. The two-year yield surged 7.1 basis points to 3.64%.

The International Energy Agency's 32 member countries agreed to release a record 400 million barrels of oil from their emergency reserves to combat supply disruptions stemming from the war in Iran, the IEA said Wednesday.

The US seasonally adjusted consumer price index rose 0.3% in February, as expected in a Bloomberg-compiled survey and following a 0.2% increase in January, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, as expected and below the 0.3% gain in January.

The year-over-year rates for headline and core CPI were unchanged from the previous 2.4% and 2.5% rates, respectively, in line with estimates in a Bloomberg-compiled survey.

In precious metals, gold futures dropped 1.1% to $5,184.2 per troy ounce, and silver futures slumped 4.7% to $85.42 per troy ounce.

In company news, Oracle (ORCL) reported higher fiscal Q3 adjusted earnings and revenue, exceeding analysts' expectations. Its shares rose 8.6%, the top gainer on the S&P 500.

Campbell's (CPB) reported fiscal Q2 adjusted earnings and revenue below analysts' forecasts. Shares dropped 5.5%, among the steepest decliners on the S&P 500.

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