U.S. Treasury yields and oil prices rose sharply Thursday, pressuring stocks and strengthening expectations that the Federal Reserve will raise rates at its next meeting. The 30-year yield reached 5.354% intraday, its highest level since June 2007 in one report and May 2007 in another, while the 10-year yield reached about 4.93%, its highest level since 2023. West Texas Intermediate crude rose 5.6% to $101.43 a barrel and Brent gained 5.5% to $106.78 after geopolitical tensions disrupted energy markets. August producer prices rose 0.4% month over month and 5.4% year over year, above the 5.3% consensus, lifting CME FedWatch odds of a 0.25 percentage-point hike from roughly 62% to 70% ahead of Friday's CPI report. The Treasury announced a buyback of up to $6 billion of securities maturing in 10 to 20 years, triple the previous $2 billion maximum, but analysts said the operation was too small relative to the roughly $32 trillion Treasury market to materially change supply-demand conditions. The S&P 500 fell 0.4%, the Dow declined 0.5% and the Nasdaq 100 dropped 0.7%, while gold and silver also fell as markets repriced interest-rate expectations.