US Equity Markets End Lower After Govt Bond Yields Rise Following Fed Chair Warsh's Comments on Inflation

04:21 PM EDT, 08/28/2026 (MT Newswires) -- US equity indexes ended lower Friday after government bond yields rose following Federal Reserve Chairman Kevin Warsh's statement that inflation is the more concerning part of the central bank's dual mandate. * "The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said, speaking at the annual Jackson Hole Economic Policy Symposium. * Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after the Qatari prime minister asked the Iranians to respect freedom of navigation, Reuters reported. * The University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg. * October West Texas Intermediate crude oil fell $0.15 to settle at $83.38 per barrel, while October Brent crude, the global benchmark, was last seen down $0.33 at $89.37. * Workday (WDAY) shares were up about 5.8%, the top gainer on the S&P 500, after it raised the low end of its full-year subscription revenue outlook following fiscal Q2 results above Wall Street's estimates. * Paypal (PYPL) shares were down roughly 13%, the worst performer on the S&P 500, after Bloomberg News reported that Advent and Stripe have backed out of their bid to buy the company.