Stock Market Today, July 29: Stocks Slide on Hawkish Fed and Increased Middle East Tensions
On July 29, 2026, a hawkish shift from three Federal Reserve officials rattled investors who were already bracing for geopolitical risks.
Overview
The Dow Jones Industrial Average (DJINDICES:^DJI) fell 2.19% to 51,594, while the S&P 500 (SNPINDEX:^GSPC) lost 1.52% to 7,316 and the Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 1.74% to 24,443 as a hawkish Federal Reserve and geopolitical tensions in the Middle East pressured equities.
Gold gained 0.27% to $4,048.99 as of U.S. market close, and the 10-Year Treasury yield gained 0.09% to 4.70%. Energy and consumer defensive stocks were among the few gainers, while industrials fell 3.42% and technology stocks dropped 2.36%.
Details
Exxon Mobil Corp and Chevron Corp rose as oil prices jumped following a surprise escalation of tensions in the Middle East. Caterpillar Inc tumbled 6.91% after an analyst downgrade. Deere & Co also dropped 4.52% amid falling agricultural commodity prices and cautious guidance. Meta Platforms and Microsoft both reported after the bell.
Source
Originally published at www.fool.com.