US equities extended their decline as rising oil and fuel prices pushed Treasury yields higher and threatened corporate profit margins. The S&P 500 fell 0.6%, the Dow dropped 0.4% and the Nasdaq 100 lost 1.3%. Producer prices rose 0.4% from the previous month in August, as the war in Iran drove wholesale energy prices higher. Oil and fuel benchmarks have risen further since the start of September amid a fresh escalation in the war and increased buying from Asia, adding pressure to stocks as markets consider the possibility of a Federal Reserve rate hike next week. Chipmakers were particularly weak because of their exposure to higher long-dated credit costs, with Marvell, Intel and Lam Research each falling 3%. Nvidia declined 1%, while Oracle slipped 1.5% ahead of its earnings report after the closing bell. Apple edged higher, recovering some of the previous day's losses after announcing several new products, including the foldable iPhone Duo.