U.S. stocks opened lower on Monday, September 28, with the Dow falling more than 300 points as higher oil prices and rising Treasury yields weighed on sentiment. Brent crude rose more than 2% to $106.79 a barrel and WTI gained around 2% to $94.40 after President Donald Trump rejected conditions for a ceasefire proposed by Iran. The benchmark 10-year Treasury yield traded above 5.2% and the 30-year yield topped 5.5%. Nvidia also drew attention after authorising an additional $150 billion in share buybacks, lifting its remaining repurchase authorisation to $235 billion through fiscal 2028.

India’s Sensex fell 1,000 points and the Nifty slipped below 23,000. Brent crude traded above $107 a barrel and WTI above $95 a barrel. Higher oil prices helped push U.S. Treasury yields up, with the 10-year at 5.2% and the 30-year above 5.5%, both last seen in 2004. Fed funds futures have fully priced in at least one more rate hike by year-end, and the probability of a 25 basis point move in October stands at 68.1%.

Precious metals weakened in international trading, with COMEX gold down 1.57% to $4,253.40 an ounce and COMEX silver falling 2.76% to $63.01 an ounce. Domestic gold and silver prices also declined in tandem, with losses of as much as 2.8%. Analysts said investors should watch for further market developments later this week.

Kotak Institutional Equities said India’s official monthly gold import value has fallen sharply since May 2026, dropping to $2 billion in June and $2.3 billion in August, well below $7.4 billion in February. The firm attributed the slide to higher import duties that lifted domestic gold prices about 9% above global levels. It also said broadly stable domestic prices since February 2026 have reduced gold’s investment appeal for households. Kotak added that similar lulls and rebounds have followed import-duty changes in the past.

Anthropic plans to ask shareholders to approve a new governance structure that would give CEO Dario Amodei and six cofounders a combined 50.1% of voting power. The setup would mirror Palantir’s founder-control model by concentrating decision-making with the founders. The company raised $65 billion in May at a postmoney valuation of $965 billion.

Foreign institutional investors turned net sellers in Indian equities on Thursday, provisionally offloading ₹5,027.36 crore worth of shares after being net buyers in the previous session. The Nifty fell to its lowest level in five months, with 48 of its 50 constituents closing lower and insurance stocks leading declines after regulatory proposals. Domestic institutional investors were net buyers, with provisional purchases of ₹4,301.18 crore.

Foreign institutional investors were net sellers of ₹3,809.99 crore in Indian equities on Tuesday, with selling surging more than six-fold from the previous session. Domestic institutional investors remained net buyers, purchasing ₹4,120.07 crore worth of shares and providing support to the market. The Nifty fell 85 points to 23,329 and the Sensex slipped 330 points to 74,529, though both recovered from intraday lows as Brent crude moved below $100 a barrel.

London Metal Exchange copper futures extended gains for a sixth day, the longest winning streak in four months. Shanghai copper inventories fell to 43,900 tons, the lowest level since 2023. Pre-holiday restocking in China and expectations of potential US tariffs have tightened global supply, pushing prices close to record highs.

U.S. stock index futures climbed on Monday, with Dow futures up about 0.7% and S&P 500 and Nasdaq 100 futures also higher. Oil fell to an 11-day low, with Brent at $101.2 a barrel, down 2.6%, and the WTI October contract at $97.80, down 2.5%. Investors are watching an upcoming meeting between U.S. and Chinese leaders while continuing to digest last week’s Federal Reserve rate hike.