Today’s Market Recap: US Crypto Bill Stalls, Bitcoin Drops Below $76,000, COIN Tumbles 10%, Market Focuses on Fed Decision

TradingKey - On September 15, Eastern Time, the three major U.S. stock indexes fell for a second consecutive trading day. International oil prices surged again, and the 10-year U.S. Treasury yield rose to its highest level since 2007, while investors awaited the Federal Reserve's interest rate decision scheduled for Wednesday. The market currently prices in more than a 90% chance of a 25-basis-point rate hike this time, with energy prices and long-term interest rates continuing to be key variables affecting risk assets.

At the close, the Dow Jones Industrial Average fell 0.63% to 52,098.20; the S&P 500 Index lost 0.45% to 7,585.73; and the Nasdaq Composite Index declined 0.78% to 25,981.57.

Among individual stocks, crypto-concept stocks fell significantly, with Coinbase (COIN) dropping 10.1% and MicroStrategy (MSTR) falling 5.36%, primarily impacted by weakening Bitcoin and the U.S. Senate's failure to advance a cryptocurrency regulatory bill.

In commodities, international oil prices continued to rise. Brent crude (UKOIL) rose 1.88% to settle at $108.47; WTI crude (USOIL) gained 3.54% to settle at $105.49. Saudi Arabia's Yanbu Red Sea export port suspended crude loading, while Saudi Arabia canceled some late-September crude cargoes for European customers, further elevating supply risks.