SPY is trading at $766.72, down 0.86% on September 23, 2026, as stronger-than-expected U.S. business data lifted Treasury yields. - S&P Global flash Composite PMI rose to 58.4, its strongest reading in more than five years; the 10-year Treasury yield reached 5.054%, its highest since 2007, pressuring technology and growth-sensitive stocks. - The decline was broad, with the Nasdaq underperforming as higher yields curbed risk appetite. - Oil’s rebound, renewed expectations for additional Federal Reserve tightening and geopolitical uncertainty added inflation and rate concerns, supporting defensive positioning.