On May 15, 2026, major U.S. stock indexes declined sharply: the S&P 500 fell by 0.91%, the Dow Jones dropped by 0.83%, and the Nasdaq 100 decreased by 1.30%. The downturn was driven by a broad selloff in global bond markets amid escalating crude oil prices, which heightened inflation concerns as West Texas Intermediate (WTI) surged over 3% to a 1.5-week high, impacted by ongoing uncertainties in the Middle East.
Global bond yields experienced significant increases, with the Japanese 10-year JGB rising to a 29-year high and the 10-year UK Gilt reaching an 18-year peak. The U.S. 10-year Treasury note yield climbed to 4.58%, its highest in 11.75 months. Goldman Sachs predicted that current oil supply disruptions could deplete global crude stockpiles by up to 1 billion barrels by June.
Overseas markets also fell, with Europe’s Euro Stoxx 50 down by 1.77%, and China’s Shanghai Composite down 1.02%. Economic data showed an unexpected rise in U.S. manufacturing conditions, with the May Empire manufacturing survey hitting a four-year high and April production rising by 0.6%, leading to further declines in stock indexes and an increase in bond yields worldwide.
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