US stocks closed lower on Sept. 10 as surging crude prices, rising Treasury yields and renewed inflation concerns pressured risk assets. The Dow Jones Industrial Average fell 0.60% to 52,064.10, the S&P 500 declined 0.58% to 7,591.70 and the Nasdaq Composite lost 0.65% to 26,081.72. October West Texas Intermediate crude jumped 6.69% to $102.48 a barrel, while November Brent rose 6.34% to $107.63, with both contracts reaching their highest closing levels since May 19. The move followed renewed concerns about disruptions to crude shipments as the war between the US and Iran continued and Yemen's Iran-backed Houthi rebels seized Mocha, a key Red Sea port city. Treasury yields also climbed, with the 10-year rate exceeding 4.95% intraday, its highest level since October 2023, and the 30-year yield closing at 5.360%, its highest close since June 2004. The 2-year yield rose to 4.548%. Bond sentiment weakened after the US Treasury announced a buyback size below market expectations and purchases below the maximum limit. August PPI increased 0.4% from July, in line with forecasts, but rose 5.4% year over year versus the 5.3% estimate. Together with higher oil prices, the data revived concerns that inflation could accelerate and that the Federal Open Market Committee (Fed monetary policy group) could consider a rate increase at next week's meeting. Bill Adams, chief economist for Fifth Third Commercial Bank covering the US, said September's energy-price surge had raised the chances of a rate-hike tilt. Semiconductor shares bore much of the selling: the Philadelphia Semiconductor Index dropped 2.66%, Micron fell 4.9%, SK Hynix American depositary receipts declined 5.2%, Intel lost 5.57% and Nvidia slipped 2.26%. Earnings produced contrasting individual moves, with Oracle rising about 7% in after-hours trading after reporting second-quarter revenue of $19.35 billion and adjusted earnings per share of $1.92, both above expectations. Apple gained more than 3% during regular trading as favorable reviews continued after the unveiling of its first foldable iPhone.