Market Watch | Aug. 31 (ET) 1/3 — Market Structure Oil—not tech—set the risk tone. S&P 500 -0.33% | Nasdaq -0.12% | Dow -0.70% | Russell 2000 -0.53% | SOX +0.57% The equity decline was modest, but the macro mix tightened again: Brent closed at $90.51, the 10Y Treasury yield rose to 4.75%, and markets priced more than a 65% chance of a September rate hike. The selloff was broad: decliners led 1.95-to-1 on the NYSE and 1.58-to-1 on Nasdaq, with nearly every S&P sector lower. Yet semiconductors and select high-beta names rose, helping the Nasdaq hold near flat while the Dow and small caps took the larger hit.
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