US close: Stocks mostly lower as US-Iran ceasefire ends, oil jumps
By Benjamin Chiou
Date: Thursday 09 Jul 2026
(Sharecast News) - US stock markets finished mixed on Wednesday, with the Dow falling sharply as the Nasdaq partially rebounded following a sell-off the previous session, with investors digesting the breakdown of diplomatic efforts between Washington and Tehran.
The resumption of strikes between the US and Iran caused oil prices to spike once again, with Brent rising 5.2% to $78.02 a barrel, temporarily topping the $80 mark for the first time in three weeks, while WTI rose 4.4% to $73.52.
As a result, the Dow dropped 1,1% to 52,348.39, falling for the second day after hitting a record closing high of 53,055.91 on Monday.
The S&P 500 also declined for the second straight session, slipping 0.3%, while the Nasdaq rose 0.2%, partially rebounding after a 1.2% slump on Tuesday.
Weighing on market sentiment was Donald Trump's announcement that the ceasefire with Iran was over following an exchange of strikes overnight. Speaking to reporters at the Nato summit in Turkey, Trump said: "I don't want to deal with them anymore."
The president said he would let negotiators continue to talk with Tehran but insisted it was "a waste of time" dealing with the Iranians, accusing them of being liars.
The US had launched "a series of powerful" strikes against Iran on Tuesday after three oil tankers were attacked in the Strait of Hormuz, with the US also revoking a waiver that allowed Iran to sell oil. Washington also threatened to strike Iran further if attacks continued on commercial shipping through the key waterway.
"Investors wanted the war to be 'over', not the peace deal. The news has caught the market off guard, leading to share prices flashing red and oil price hikes restoking the inflation debate," says Dan Coatsworth, head of markets at AJ Bell.
"Interest rate expectations quickly shifted, with markets now thinking the Fed could raise rates in September or October rather than the earlier suggestion of December."
Minutes from the Federal Reserve Open Markets Committee's latest policy meeting, released during the session, revealed broad agreement that rate hikes would be needed if inflation remained elevated this year.
Elsewhere on the macro front, US mortgage applications fell by 2.2% on the week ended 3 July, according to the Mortgage Bankers Association. Last week's modest decline came amid relative stability in benchmark mortgage rates, with the 30-year fixed rate rising just a single basis point to 6.58%, despite an increase in longer-term Treasury yields during the week.
Meanwhile, US wholesale inventories edged 0.1% higher in May to $941.8bn, according to revised Census Bureau data, offering a fresh read on stock levels across the sector. That followed a revised 0.1% gain in April.
Market movers
Just five of the Dow's 30 constituents finished in positive territory. Financials weighed heavily on the index, with American Express, JPMorgan Chase and heavyweight Goldman Sachs all in the red.
Apple was among the few risers on the Dow after unveiling a $30bn, multi-year agreement with semiconductor manufacturer Broadcom to produce "billions more" US-made chips.
The deal, which includes the design and production of custom silicon components and cutting-edge wireless connectivity technologies for a "wide range of Apple products", sent Nasdaq-listed Broadcom up 5%.
Others in the chip sector, including Nvidia and Micron Technology, also put in decent gains as the sector attempted to recover from recent losses.
Dow Jones - Risers
Dow Chemical Co. (DOW) $29.03 1.36%
Chevron Corp. (CVX) $175.97 1.17%
Caterpillar Inc. (CAT) $948.08 0.85%
Apple Inc. (AAPL) $313.39 0.78%
Cisco Systems Inc. (CSCO) $113.82 0.43%
Dow Jones - Fallers
American Express Co. (AXP) $336.39 -3.77%
Boeing Co. (BA) $224.95 -2.90%
Procter & Gamble Co. (PG) $148.40 -2.85%
Home Depot Inc. (HD) $336.21 -2.61%
JP Morgan Chase & Co. (JPM) $330.62 -2.54%
Microsoft Corp. (MSFT) $383.34 -2.39%
Intel Corp. (INTC) $110.24 -2.37%
Merck & Co. Inc. (MRK) $125.99 -2.23%
3M Co. (MMM) $154.70 -2.09%
Salesforce.Com Inc. (CRM) $166.58 -1.73%
S&P 500 - Risers
Akamai Technologies Inc. (AKAM) $126.57 8.79%
Arista Networks Inc. (ANET) $181.05 8.76%
HF Sinclair Corporation (DINO) $78.62 6.33%
Valero Energy Corp. (VLO) $282.88 6.26%
Nvidia Corp. (NVDA) $204.12 6.11%
Broadcom Inc. (AVGO) $388.69 5.81%
Apache Corp. (APA) $35.06 5.60%
Marathon Petroleum Corporation (MPC) $280.68 5.39%
Phillips 66 Common Stock (PSX) $187.81 5.02%
Applied Materials Inc. (AMAT) $570.50 4.74%
S&P 500 - Fallers
Synchrony Financial (SYF) $68.26 -9.61%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Bread Financial Holdings, Inc. (BFH) $93.83 -8.33%
Capri Holdings Limited (CPRI) $17.90 -7.78%
Align Technology Inc. (ALGN) $174.68 -7.65%
Booking Holdings Inc. (BKNG) $174.29 -6.99%
American Airlines Group (AAL) $16.52 -6.49%
Resmed Inc. (RMD) $205.84 -6.33%
Perrigo Company plc (PRGO) $10.52 -5.99%
Bath & Body Works, Inc. (BBWI) $19.39 -5.97%
Nasdaq 100 - Risers
Nvidia Corp. (NVDA) $204.12 6.11%
Broadcom Inc. (AVGO) $388.69 5.81%
Applied Materials Inc. (AMAT) $570.50 4.74%
Seagate Technology Plc (STX) $860.02 4.33%
Texas Instruments Inc (TXN) $301.32 4.02%
Baidu Inc. (BIDU) $117.62 3.12%
Lam Research Corp. (LRCX) $333.15 3.02%
Microchip Technology Inc. (MCHP) $85.49 2.49%
Western Digital Corp. (WDC) $550.30 2.49%
Micron Technology Inc. (MU) $948.80 2.39%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Align Technology Inc. (ALGN) $174.68 -7.65%
Booking Holdings Inc. (BKNG) $174.29 -6.99%
American Airlines Group (AAL) $16.52 -6.49%
Intuitive Surgical Inc. (ISRG) $415.10 -5.89%
Tesla Inc (TSLA) $394.06 -5.24%
Expedia Group Inc. (EXPE) $260.31 -5.09%
Gen Digital Inc. (GEN) $25.81 -4.97%
Henry Schein Inc. (HSIC) $83.22 -4.85%
Biogen Inc (BIIB) $200.36 -4.79%
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN