NEW YORK (AP) — Stocks are drifting on Wall Street amid the latest updates on the U.S. jobs market and further escalation in the U.S. war with Iran. The S&P 500 index rose 0.1% Wednesday. The Dow Jones Industrial Average rose 189 points, or 0.4%. The Nasdaq composite fell 0.1%. Oil prices held steady as the U.S. and Iran intensify attacks against each other. That follows a monthlong lull in the six-month long conflict that has curtailed global oil
shipments through the vital Strait of Hormuz. The jobs market is in focus this week. A private monthly report from ADP showed that employment slipped in August.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
HONG KONG (AP) — World shares tumbled Wednesday after stocks slipped on Wall Street and as a global bond market sell-off deepened.
The future for the S&P 500 lost 0.3% and that for the Dow Jones Industrial Average was down 0.1%.
In early European trading, Britain's FTSE 100 shed 0.6% to 10,726.68. France's CAC 40 fell 0.4% to 8,260.77, while Germany's DAX lost 0.6% to 25,798.01.
In Asia, Tokyo’s Nikkei 225 dropped 2.9% to 64,325.64. Market heavyweight SoftBank Group, the Japanese multinational investment holding firm which invests in OpenAI, fell 6.4%.
South Korea’s Kospi lost 4% to 6,562.72 on renewed selling of computer chipmakers. Samsung Electronics declined 4%, while memory chipmaker SK Hynix fell 4.7%.
Hong Kong’s Hang Seng slipped 0.1% to 25,311.21. Shein, the fast-fashion online retail giant that made its Hong Kong trading debut on Tuesday, fell 5.2%. The Shanghai Composite index slid 1% to 3,941.39.
Australia’s S&P/ASX 200 fell 1% to 8,978.40.
Taiwan’s Taiex dropped 1.7%, and India's Sensex fell 0.6%.
On Tuesday, Wall Street’s benchmark S&P 500 slipped 0.7%. The Dow industrials dropped 0.8%, and the technology-heavy Nasdaq composite fell 1%. The U.S. on Tuesday reported job openings grew slightly in July.
Among some of the biggest decliners, Nvidia dropped 1.5%, Amazon gave up 1.9% and Advanced Micro Devices, or AMD, fell 2.4%.
Oil prices advanced after the U.S. launched another round of military strikes on Iran and Iran responded by firing missiles and drones across the region.
Since the Iran war passed its six-month mark, escalating tensions between the U.S. and Iran have worsened worries over energy supplies. The Strait of Hormuz, an important waterway for oil transport, remains largely closed.
Brent crude, the international standard, was trading at $94.90 per barrel, up 0.1%. It was trading at around $72 a barrel before the start of the war in late February.
Benchmark U.S. crude was 0.2% higher at $90.34 a barrel.
Elevated inflation and growing government debt are helping drive bond yields higher as investors demand increased returns due to increased risks. Bond prices fall when bond yields rise, in an inverse relationship.
The yield of the 10-year U.S. Treasury rose to around 4.81% from 4.75% on Monday. It was as low as 4.20% in January.
The 2-year Treasury yield, which tracks Federal Reserve interest rate moves more closely, was at about 4.40%, up from 4.34% on Monday. That’s compared to roughly 3.50% back in early 2026.
Japan’s 10-year government bond yield was at around 3.02% early Wednesday, its highest since 1996 and up from around 2.94% on Monday.
The U.S. dollar fell to 159.84 Japanese yen from 160.17 yen. The euro was trading at $1.1571, down from $1.1593.
