Traders at work at the New York Stock Exchange on May 28, 2026.
new york stock exchange
Stocks fell on Wednesday; S&P500 Oil prices and Treasury yields rose on worries that the conflict between the United States and Iran will continue to push up inflation, ending a nine-day winning streak.
30 shares Dow Jones Industrial Average It pulled back 620.72 points (1.21%) to end at 50,687.07. The broader market S&P 500 index fell 0.74% to end at 7,553.68. Nasdaq Composite It fell 0.89% to 26,853.98.
Oil prices rose after the US and Iran launched new attacks. West Texas Intermediate Futures It rose 2.41% to settle at $96.02 per barrel. brent crude oil It rose 1.89% to settle at $97.81 per barrel.
President Donald Trump said Wednesday that Iran had agreed not to have nuclear weapons, but added that “their minds could change.”
The president’s comments came as tensions in the Middle East escalated and oil prices rose.
Late Tuesday, Kuwait’s military said in a social media post that its air defense systems were “intercepting hostile targets.” U.S. Central Command later announced that U.S. forces had destroyed an Iranian ballistic missile and a drone, and also conducted a “self-defense strike” on Qeshm Island “in response to attempted attacks by Iran throughout the Middle East.”
As oil prices rise, US bond yields also rise, 10 years The last seen yield was closer to 4.5%. 30 years Yield is close to 5%. Yields rose further following May’s strong ADP report and after the expansion in services sector activity slowed slightly last month.
“Today’s situation is a setback to the idea that cutting rates may not be so easy when the economy appears to be accelerating,” said Sean Snyder, economic strategist at Potomac Fund Management.
The Fed is expected to raise interest rates by at least a quarter of a point by the end of the year, according to the CME FedWatch tool.
“We haven’t seen the demand destruction that some people expected,” Snyder added.
A decline in artificial intelligence-related stocks also weighed on the overall market. Nvidia and Dell Technologies Reduced by more than 3%, oracle It fell more than 5%. microsoft It also fell by 3%.
