U.S. markets settled lower on Thursday as a renewed rise in long-term Treasury yields weighed on sentiment, while oil prices climbed amid continued uncertainty over the conflict involving Iran and the Strait of Hormuz. On the economic front, the Labor Department released a report showed the number of people claiming unemployment benefits in the US fell by 6,000 to 206,000 on the second week of August, below market expectations of 210,000. The result maintained the streak of low initial claim counts since reaching the near 60-year low of 189,000 in the middle of July. Besides, another report released by the Federal Reserve Bank of Philadelphia said the United States Philadelphia Fed Manufacturing Index rose to 47.4 in August 2026 from 41.4 in July, its highest level since April 2021 and well above expectations of 25. Nearly 57% of surveyed companies reported higher activity, while only 10% recorded declines. However, new orders eased to 30.1 and shipments fell to 27.7, although both remained at relatively strong levels.
Nasdaq decreased 263.92 points or 1.00 percent to 26,067.16, S&P 500 fell 66.82 points or 0.87 percent to 7,641.16 and Dow Jones Industrial Average was down by 703.84 points or 1.32 percent to 52,759.21.
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