The Federal Reserve's September meeting starts behind closed doors today, with an interest-rate decision coming tomorrow. Ahead of word from the central bank, investors face rising bond yields and energy costs. Stock indexes are down, facing their sixth decline in the past seven sessions. It could also be a big day for crypto in Congress.

Here's what is moving markets today:

Treasury yields hit 2007 levels: The yield on the 10-year Treasury rose as high as 5.04% Tuesday, its highest level since 2007, before reversing course. Treasury Secretary Scott Bessent is testifying in front of the House Financial Services Committee, where he faces questions about fuel prices, inflation, interest rates and bond yields.

Energy costs: Brent crude, the international benchmark for oil, is up more than 2% to $108.47 a barrel. The closure of a critical Saudi pipeline is pressuring supply, sending prices higher and stoking inflation fears.

Crypto responds to Clarity: The Clarity Act is headed for a procedural vote in the Senate at 2:15 p.m. ET Tuesday, and crypto stocks are down headed into the vote. Sixty votes for cloture would end debate on whether the Senate takes up the bill and moves it to the next stage of consideration. Bitcoin prices are down more than 3.5%. Shares of exchanges Coinbase and Strategy are down more than 4%. Robinhood fell 3%.