QQQ recovers from a 1.68% opening drop but trails SPY as Treasury yields breach 5%

QQQ fell 0.74% and SPY fell 0.41%, leaving SPY ahead by 0.32 percentage points. Both recovered from deeper opening losses. QQQ gained 0.88 percentage points during regular trading versus 0.27 for SPY. A Reuters poll showed 86 of 101 economists expected a September rate increase, while 10- and 30-year Treasury yields later reached 5.02% and 5.40%. Major technology users tightened AI-model safeguards. Saudi pipeline repairs, limited tanker capacity and a late report of falling Hormuz traffic kept energy-route risk prominent.