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Published: 16 September 2026,01:24
Daily Market Analysis New
*The S&P 500 fell 0.48%, while the Nasdaq declined 0.56% and the Dow slipped 0.29%.
*Semiconductor stocks led losses after major AI industry leaders called for a slower pace of advanced AI development.
*The US 10-year Treasury yield briefly climbed above 5%, increasing pressure on growth-stock valuations.
US equities moved lower as investors faced a combination of renewed concerns surrounding artificial intelligence, rising Treasury yields and elevated oil prices.
Technology and semiconductor stocks came under particular pressure after leading AI executives called for greater caution in developing increasingly advanced AI models. The warning raised concerns that a slower pace of AI development could eventually affect demand for chips, data centres and other AI infrastructure. The Philadelphia Semiconductor Index fell 5.9%, with Nvidia, Broadcom and other AI-linked names among the major decliners.
OpenAI has also ruled out an IPO in 2026 as AI-safety concerns become a larger industry focus, adding to uncertainty around the short-term growth narrative for the sector.
At the same time, rising Treasury yields continued to pressure equity valuations. The benchmark 10-year yield briefly moved above 5%, while the 30-year yield remained elevated above 5.3%. Higher yields increase borrowing costs and reduce the relative attractiveness of growth stocks, which are particularly sensitive to changes in long-term interest rates.
Oil prices added another layer of pressure. Brent remained above $106 per barrel as Middle East supply disruptions continued, increasing inflation concerns and strengthening expectations that the Federal Reserve may need to maintain a tighter monetary-policy stance.
For now, the equity outlook remains sensitive to both Fed policy and the direction of Treasury yields. A more hawkish Fed message could keep pressure on technology and growth stocks, while any easing in yields or oil prices could provide room for a technical rebound.
Nasdaq is trading lower, currently testing the 29,035.00 support level, which acts as a key near-term downside pivot.
Momentum indicators remain bearish, with the MACD showing increasing bearish momentum and the RSI at 41 staying below the midline, suggesting that selling pressure remains in control.
Market attention is focused on a potential breakdown below 29,035.00. A confirmed break below this level could extend losses toward the next support at 27,175.00, reinforcing the bearish short-term structure.
However, if bearish momentum begins to fade, Nasdaq may stage a technical rebound and retest the 30,185.00 resistance level, followed by 31,115.00 if recovery momentum strengthens.
Resistance Levels: 30185.00, 31115.00
Support Levels: 29035.00, 27175.00
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