Wall Street opened September on a sour note, with US stocks falling alongside a slide in bonds amid uncertainty around trade policy, interest rates, and economic data. The S&P 500 dropped 0.7%, the Nasdaq slid 0.9%, marking back-to-back sharp losses for the tech-heavy index, and the Dow Jones fell 250 points. Rising Treasury yields added pressure, with the 10-year near 4.3% and the 30-year approaching 5%, levels seen as headwinds for stocks. Sentiment was further hit after a federal appeals court ruled most of Trump’s tariffs illegal, though they remain in place until October 14 pending a Supreme Court appeal. Investors now await Friday’s August jobs report, which could shape the Fed’s next rate decision, with markets pricing in a 25 basis point cut. US manufacturing contracted for a sixth straight month, deepening growth concerns. On the corporate front, Nvidia dropped 2% and Qualcomm fell 1.2% and Kraft Heinz tumbled 7% after announcing plans to split into two companies.