Stocks to Watch Today, September 2: Nvidia, Tesla Slide as Oil Breaks $90 and Yields Surge

Nvidia and Tesla enter Wednesday under fresh pressure after a sharp risk-off session on Wall Street. Nvidia fell 1.39% to $217.44 on Tuesday, while Tesla dropped 3.22% to $356.09.

At the same time, U.S. crude settled at $90.22 a barrel and Brent crude rose to $94.65, then climbed above $95 in early Wednesday trading. The U.S. 10-year Treasury yield briefly reached 4.8122%, adding another headwind for high-growth stocks.

The broader market was weak before the September 2 session. The S&P 500 fell 0.71% Tuesday to 7,631.47, the Dow lost 0.79% to 52,766.88, and the Nasdaq dropped 1.03% to 26,099.77.

It was the third straight decline for the major U.S. indexes. Early Wednesday, S&P 500 e-mini futures were down about 0.1%, showing investors remained cautious rather than rushing back into stocks.

Oil is the biggest market driver to watch. Fresh U.S. strikes on Iran and renewed fears over traffic through the Strait of Hormuz pushed energy prices sharply higher. WTI crude gained 5.2% Tuesday to close above $90 for the first time in more than a month.

Brent added 4.6%, then moved toward $96 early Wednesday. Higher oil can help energy producers, but it can also raise fuel and transport costs and keep inflation pressure high.

That matters for Nvidia and other large technology stocks because higher inflation can keep interest rates higher for longer. The 10-year Treasury yield is now near its highest level in almost three years.

Higher yields can make future profits from fast-growing companies less valuable in today’s dollars, which often puts pressure on richly valued tech shares. Investors who followed Tuesday’s market can compare the move with Investozora’s September 1 watch.

Nvidia remains one of the most important stocks in the market because of its size and its role in the AI spending boom. The company reported fiscal second-quarter revenue of $96.2 billion last week, up 106% from a year earlier.

Data center revenue reached $89.0 billion, up 117%. Nvidia also guided for about $108 billion in third-quarter revenue, plus or minus 2%, while saying that outlook assumes no Data Center compute revenue from China. Those figures come directly from Nvidia’s quarterly results.

Those numbers remain strong, but Nvidia shares can still move sharply when bond yields rise or investors cut risk. Anyone tracking the stock can also revisit Investozora’s Nvidia earnings preview.

Dell gave the AI trade another fresh signal Tuesday night, raising its annual revenue forecast to $192 billion as demand for AI servers using Nvidia chips stayed strong. Dell shares rose about 7% in extended trading.

Tesla is also worth watching closely. The stock closed Tuesday at $356.09 after falling $11.86, or 3.22%. Tesla has been more volatile than the broad market, and higher rates can create double pressure because they affect growth-stock valuations and the cost of financing big-ticket purchases such as vehicles.

Tesla also has a company-specific event approaching. The automaker is holding a Cybercab launch event in Austin, with Tesla’s official event page listing the schedule through September 3. That keeps Tesla’s robotaxi plans in focus even as wider market pressure weighs on the shares.

For investors, the next question is whether Tuesday’s drop was only a short risk-off move or the start of a deeper pullback. Oil and Treasury yields may give the first answer. If crude keeps moving toward $100 and the 10-year yield stays near or above 4.8%, rate-sensitive stocks could remain under pressure. If both cool, beaten-down technology shares could get some relief.

The Federal Reserve is another major risk. Traders were pricing about a 67% chance of a quarter-point rate increase at the Fed’s September 15–16 meeting early Wednesday, according to Reuters. The Fed’s official meeting calendar confirms the two-day meeting ends September 16. Investors will watch new jobs and inflation data closely because those reports could quickly change rate expectations.

Broadcom is another stock to watch because its earnings are due Wednesday and could give the market another read on AI demand. Earnings releases can move entire sectors, so investors following corporate reports may also find Investozora’s 8-K earnings guide useful. The bigger theme is that strong AI spending is now colliding with higher oil, higher bond yields and renewed inflation fears.

For readers building long-term positions rather than trading one session, the sharp moves are also a reminder to separate company fundamentals from daily market stress. Investozora has covered the recent tech-to-bond shift and also offers a basic stock investing guide for newer investors.

For September 2, the clearest signals are simple: watch Nvidia, Tesla, oil, the 10-year Treasury yield and Broadcom earnings. Oil above $90 and yields near 4.8% are making the market less forgiving. If those pressures keep rising, growth stocks could stay volatile even when company results remain strong.