US Stock Futures Fall Ahead of Fed Meeting as Oil and Treasury Yields Rise: Dow Jones, S&P, Nasdaq, Wall Street
Fiona CraigTue, September 15, 2026 at 12:29 PM GMT+3 3 min read
US stock futures moved lower on Tuesday ahead of the Federal Reserve's two-day monetary policy meeting, while investors also monitored higher oil prices, Treasury yields and developments in the Middle East.
At 03:20 ET, Dow futures were down 266 points, or 0.5%, while S&P 500 futures declined 28 points, or 0.4%. Nasdaq 100 futures fell 90 points, or 0.3%.
Wall Street's main indices also declined in the previous session. Semiconductor shares moved lower, with the Philadelphia Semiconductor Index recording its largest daily decline since July.
The benchmark 10-year US Treasury yield moved above 5% for the first time since 2023 as investors assessed the potential inflationary impact of higher energy prices.
"It was another session where September lived up to its reputation as the worst month of the year for asset performance, with bonds and equities continuing to struggle," Deutsche Bank analysts said.
The analysts said they would also monitor US Treasury Secretary Scott Bessent's testimony to the House Financial Services Committee "to see if he tries to lean in some credible way against the rising tide of bond yields."
Markets Price Higher Probability of Fed Rate Increase
The Federal Reserve was due to begin its two-day policy meeting on Tuesday, with its interest-rate decision scheduled for Wednesday.
Markets were pricing in approximately a 92% probability of a 25-basis-point rate increase, according to CME FedWatch. Such a move would take the federal funds target range to between 3.75% and 4%.
Deutsche Bank analysts said markets were also pricing approximately 90 basis points of rate increases by the Fed's June 2027 meeting, two basis points more than the previous day.
Recent US economic data have shown continued inflationary pressures alongside resilience in the labour market, factors investors are considering when assessing the outlook for monetary policy.
Oil Prices Rise Amid Middle East Supply Concerns
Oil prices extended recent gains as investors monitored developments affecting Middle Eastern supply routes.
Talks involving Iran and Gulf countries over reopening the Strait of Hormuz remained on hold.
The Iran-aligned Houthis in Yemen carried out further strikes against Saudi Arabia on Monday and continued operations around the Red Sea and Bab el-Mandeb Strait.
The developments followed attacks that took Saudi Arabia's East-West pipeline offline. Analysts cited in the source estimated that additional disruptions could affect the equivalent of 4% to 5% of global oil supplies.
Former Google DeepMind Researcher Warns About AI Risks
Bilal Chughtai, a former research engineer at Google DeepMind, raised concerns about the potential risks associated with increasingly capable artificial intelligence systems after leaving the company.
Chughtai said he believes superintelligent AI systems exceeding human capabilities could emerge within the next several years and present significant risks.
"I earnestly believe that AI has the potential to kill us all, and that we might be running out of time to avoid this outcome," Chughtai said in social media posts.
His comments follow warnings from other people working in the AI sector. Former Anthropic researcher Jacob Coxon said last week that concerns about potential AI risks were among the reasons for his resignation, while Anthropic Chief Executive Dario Amodei has called for additional regulation and a slower pace of development.
China Industrial Production Rises 5.2%
China's industrial production increased 5.2% year on year in August, exceeding expectations for 4.8% growth and accelerating from 4.5% in the previous month.
The source attributed part of the increase to overseas demand for Chinese exports, including electronic components, batteries and networking equipment.
Fixed-asset investment, meanwhile, declined 7.2% in the year to August, compared with expectations for a 7.0% decrease. The measure of private and public capital investment has remained negative since April.
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