Data as of: September 16, 2026, 08:00 (UTC+8)
Corresponding US stock trading date: September 15, 2026

I. Overnight US Stock Market

On September 15, the US stock market continued to weaken, with all three major indices declining.

The market was mainly affected by factors including continued increases in US Treasury yields, rising international oil prices, and the approaching Federal Reserve policy meeting.

During the day, the US 10-year Treasury yield rose to approximately 5.04% at one point, reaching a relatively high level since 2007, before closing near 5.00%. The high-interest-rate environment continued to weigh on high-valuation growth stocks.

Meanwhile, international oil prices remained elevated. Energy supply risks in the Middle East pushed crude oil prices higher, with Brent crude returning to around $105 and US WTI crude remaining above $100.

Rising oil prices further increased market concerns about future inflationary pressure, while also prompting investors to pay closer attention to the Federal Reserve’s September policy meeting and its guidance on the future path of interest rates.

Closing Performance of the Three Major Indices

Dow Jones Index:52,039.11(-0.63%)

S&P500:7,585.73(-0.45%)

Nasdaq Composite Index:25,981.57(-0.78%)

The three major indices remained under pressure, with the Nasdaq experiencing a relatively larger decline. Technology and growth stocks continued to be affected by the high-interest-rate environment.

II. Savicoin US Stock Perpetual Contract Market

Note: Reference prices and percentage changes are based on the closing prices during the regular trading session of the corresponding US stock/ETF on September 15. Actual transaction prices of Savicoin US stock perpetual contracts may differ due to trading hours, market liquidity, and market volatility.

III. Market Observations

On September 15, the core trading logic in the US stock market became increasingly focused on:

Federal Reserve｜Treasury Yields｜Crude Oil｜Inflation｜Technology Stock Valuations

The week’s biggest market event has entered its final stage.

The Federal Reserve’s September policy meeting is being held from September 15 to 16, and the market is waiting for the interest rate decision and subsequent policy guidance. Recent market expectations regarding the policy path have been significantly affected by oil prices and inflation risks.

Meanwhile, the 10-year US Treasury yield remained near 5%.

For technology stocks, the importance of interest rate changes has increased further.

When long-term US Treasury yields rise, high-valuation growth stocks generally face greater valuation pressure. Therefore:

AI｜Semiconductors｜Software｜Large-cap Technology Stocks

remain several of the market’s most sensitive areas.

On September 15, the Nasdaq fell approximately 0.78%, declining more than the S&P 500, indicating that the technology sector remained under relatively significant pressure.

IV. Key Underlying｜NVDAUSDT

On September 15, NVIDIA rebounded at one point during the session and closed at approximately $212.7.

Compared with the more than 3% plunge on September 14, NVDA saw some short-term recovery, but overall it remained highly volatile.

The previous adjustment in the AI sector mainly centred on:

• The growth rate of AI capital expenditure
• Data centre construction cycles
• AI chip demand
• Capital expenditure by large cloud providers
• AI investment returns
• Changes in US Treasury yields

.

NVDA remains an important bellwether for the entire AI industry chain.

If Federal Reserve policy signals lead to a decline in Treasury yields, pressure on technology stock valuations may ease somewhat.

Conversely, if oil prices continue to rise, inflation expectations increase further, and long-term Treasury yields remain elevated, the AI and semiconductor sectors may still experience substantial volatility.

Therefore, short-term market attention on NVDA has shifted from simply “AI demand growth” to:

AI Demand Growth + Capital Expenditure + Interest Rate Environment + Valuation

V. Key News for September 16

1｜Federal Reserve September Meeting Enters Its Final Day

September 16 is an important date in this Federal Reserve policy meeting.

The market is focused not only on the interest rate decision, but also on:

Interest rate statement｜Economic projections｜Inflation projections｜Employment projections｜Dot plot｜Press conference

Market expectations regarding the Federal Reserve’s policy path have changed significantly recently.

Previously, the market focused more on economic growth and employment. More recently, as crude oil prices have risen significantly, the impact of energy prices on inflation has once again become an important variable in policy discussions.

Therefore, after this meeting, the market may focus on the Federal Reserve’s statements regarding:

Whether inflation is heating up again   and   whether the future interest rate path is changing   .

2｜10-Year US Treasury Yield Remains Near 5%

On September 15, the US 10-year Treasury yield reached approximately 5.04% at its intraday high before closing near 5.01%.

This is a highly important variable for the current US stock market.

If yields continue to rise:

Pressure on technology stock valuations will increase

If yields decline significantly:

Growth stocks may gain some room for valuation recovery

Therefore, the 10-year US Treasury yield remains an important focus during US stock trading on September 16.

3｜Crude Oil Remains Elevated, Inflation Risks Continue to Draw Attention

International oil prices remained elevated.

Recent tensions in the Middle East and risks to energy infrastructure have continued to affect market assessments of crude oil supply. Brent crude returned to around $105, while WTI crude remained above $100.

If crude oil prices remain elevated, they may affect market expectations through the following chain:

Energy → Transportation → Manufacturing → Consumption → Inflation

Therefore, the market’s focus on crude oil is currently not limited to the energy sector itself, but also extends to:

Inflation expectations → Treasury yields → Federal Reserve policy → Technology stock valuations

4｜Technology Stocks Continue to Diverge

On September 15, large-cap technology stocks did not move uniformly.

Some AI and technology assets recovered after a sharp adjustment in the previous trading session, while some large-cap technology stocks such as Apple, Microsoft, and Amazon remained affected by rising interest rates.

Among them, Amazon closed at approximately $248.94 that day, down about 1.81%.

Microsoft also came under significant pressure during the session, with its share price falling below $500 at one point.

This divergence indicates that the current market is not simply “selling technology stocks across the board”; instead, capital is beginning to focus more on:

Corporate earnings｜AI commercialisation｜Capital expenditure｜Cash flow｜Valuation levels

5｜SPY Continues to Follow the Broader Market Lower

As a representative asset of the S&P 500 Index ETF, SPY closed at approximately $757.18 on September 15, down about 0.49% from the previous trading day.

Because SPY covers large US companies, its performance provides a relatively direct reflection of overall risk appetite.

Current key factors affecting SPY include:

Federal Reserve policy｜Treasury yields｜Oil prices｜Inflation｜Corporate earnings

If risk appetite improves after the policy meeting, SPY may recover. If yields and oil prices continue to rise, the market may remain volatile.

VI. Key Underlying Watchlist

Key assets to watch on September 16:

NVDA｜SNDK｜MSFT｜META｜AAPL｜AMZN｜TSLA｜SPY

NVDA
Focus on whether the AI sector’s recovery continues and on changes in Treasury yields.

SNDK
Focus on volatility in the memory chip sector. SNDK previously underwent a significant correction and remains a highly volatile asset.

MSFT
Focus on AI investment, Azure, and the performance of enterprise AI businesses.

META
Focus on AI infrastructure investment and advertising business growth.

AAPL
Focus on the new product cycle, consumer demand, and overall risk appetite for large-cap technology stocks.

AMZN
Focus on AWS, AI infrastructure investment, and cloud business growth.

TSLA
Focus on autonomous driving, Robotaxi, and overall market risk appetite.

SPY
Focus on changes in overall capital risk appetite for US large-cap stocks after the Federal Reserve meeting.

VII. Today’s Market Outlook

On September 16, the US stock market will face the most important policy event of the week.

The current core market variables can be summarised as:

Federal Reserve + Treasuries + Crude Oil + AI

Over the past several trading sessions, the market has experienced:

AI sector adjustment

↓

Rising oil prices

↓

Growing inflation concerns

↓

10-year Treasury yield breaking above 5%

↓

Pressure on technology stock valuations

Today, the market will await the Federal Reserve’s policy decision.

Significant short-term volatility may occur. In particular, attention should be paid to whether the following move in tandem after the policy announcement:

US dollar｜Treasury yields｜Nasdaq futures｜Semiconductor sector｜Large-cap technology stocks

VIII. Today’s Trading Session Information

September 16, 2026 (Wednesday) is a normal US stock trading day.

Regular US Stock Trading Hours

Beijing time 21:30–04:00

Pre-market and After-hours

16:00–21:30 / 04:00–08:00

The market is currently in a critical window for the Federal Reserve policy meeting, and volatility may expand significantly before and after the policy announcement.

Actual trading hours, tradable assets, and market data are subject to the information displayed on the Savicoin platform.

IX. Risk Disclosure

The current market is simultaneously affected by:

Federal Reserve policy, crude oil prices, geopolitics, Treasury yields, AI valuations, and inflation expectations

among other factors.

Especially before and after the Federal Reserve policy announcement, stocks, bonds, the US dollar, and commodity markets may experience rapid fluctuations, further amplifying price movements in technology stocks and the semiconductor sector.

US stock perpetual contracts are leveraged trading products, and price fluctuations may be further magnified.

Please manage your positions and leverage appropriately, and pay close attention to market liquidity, price volatility, and liquidation risks.

X. Disclaimer

This article is provided for market information purposes only and does not constitute any investment or trading advice.

Relevant market data is sourced from public markets and the Savicoin platform. Differences in prices and timestamps may exist between different data sources.

Savicoin US stock perpetual contracts are continuously traded products. Their actual transaction prices, mark prices, and settlement prices may differ from the prices of the corresponding US stock spot markets.

Users should make independent decisions based on their own circumstances and bear the relevant trading risks themselves.

Savicoin Team