US stock indexes closed lower Thursday as rising oil and fuel prices lifted Treasury yields and increased pressure on corporate margins. The S&P 500 fell 0.6%, the Nasdaq lost 1.1%, and the Dow declined 316 points. Producer prices rose 0.4% month over month in August as the war in Iran drove wholesale energy prices higher. Oil and fuel benchmarks have climbed further since the start of September amid renewed escalation in the conflict and stronger buying from Asia, adding pressure on equities ahead of a possible Federal Reserve rate hike next week. Chipmakers underperformed because of their exposure to higher long-term borrowing costs, with Nvidia down 2.3%, Micron tumbling 4.9%, AMD falling 3.4% and Intel retreating 5.6%. Oracle fell 5.4% before its earnings report after the bell, while Meta declined 1.4% and Palantir dropped 2.2%. Apple gained 3.6%, recovering part of Wednesday's losses after announcing several new products, including the foldable iPhone Duo.