Global Markets Today, September 10, 2026: Asia Declines, Wall Street Ends Lower As Oil Tops $100; Indian Equities Seen Opening Lower

Mumbai, September 10: Asian equities traded lower on Thursday as a fresh escalation in the Middle East conflict pushed Brent crude above the psychologically important $100-a-barrel mark, weighing on risk appetite and raising concerns over a renewed bout of global inflation. The weakness across Asian markets, combined with losses on Wall Street overnight, is likely to set a negative tone for Indian equities at the open. 

Asia declines 

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9%, while Japan’s Nikkei declined 0.8% and South Korea’s Kospi declined 1%. Investors remained wary as attacks on shipping in the Middle East intensified, raising fears of prolonged disruption to energy supplies. 

The oil shock was at the centre of the market moves. Brent crude futures rose to around $101.1 a barrel in early Asian trade after crossing $100 on Wednesday for the first time since July. The latest leg higher came as traders assessed the possibility of a wider and more prolonged conflict in the Middle East, with an escalation involving Saudi Arabia and the Houthis in Yemen adding another threat to regional energy flows. 

Wall Street ends lower 

US stocks also came under pressure as the surge in crude prices revived inflation concerns and pushed Treasury yields higher. 

The S&P 500 declined 0.48%, while the Nasdaq Composite fell 0.64%. The Dow Jones Industrial Average dropped 0.77%. The energy sector was the only major S&P 500 sector to finish higher, gaining 1.1%, as the jump in oil prices benefited energy stocks. 

The US 10-year Treasury yield climbed to its highest level since November 2023, with the latest pressure coming after the US Treasury announced a $6 billion buyback of longer-dated bonds, below the $8 billion-$10 billion purchase some investors had expected. Higher bond yields make equities relatively less attractive while also reinforcing concerns about the path of US interest rates. 

Inflation data, Fed in focus 

Markets are now looking towards US producer price inflation data due Thursday and consumer price inflation figures due Friday. The readings could influence expectations for the Federal Reserve’s September 15-16 policy meeting. Fed funds futures were pricing in about a 60% probability of a rate hike next week. 

The combination of higher oil prices, elevated bond yields and uncertainty over monetary policy is therefore keeping investors defensive. Japan’s yen has strengthened sharply in September as expectations of a Bank of Japan rate hike have increased, adding another layer of volatility to global currency and bond markets. 

Indian markets likely to open lower 

Against this backdrop, Indian equities are likely to see a negative start on Thursday, with expensive crude acting as the biggest near-term headwind. The sharp fall in domestic benchmarks on Wednesday has already reflected a significant part of the global risk-off mood. 

However, sustained oil above $100 could keep pressure on oil-sensitive sectors, inflation expectations and the rupee, while energy stocks could continue to find support from higher crude prices. Investors will also track foreign fund flows and developments in the Middle East as the session progresses. 

With Asian markets lower, Wall Street ending in the red and Brent holding above $100, the immediate setup points towards a cautious opening on Dalal Street, with volatility likely to remain elevated. 

Source

• Exchanges