Overview
- The Dow fell again, closing down $161.61 at 51,349.98, while selling pressure on equities increased as investors fretted about higher long-term borrowing costs.
- The Nasdaq showed resilience and finished slightly higher, reflecting a split in market leadership and noticeable divergence among large-cap names.
- Persistently strong oil prices raised concerns about rising input costs and inflation, which in turn reinforced expectations that the Federal Reserve could raise rates further.
- Reports of progress in U.S.-Iran negotiations over the Strait of Hormuz eased some geopolitical risk and prompted limited buybacks, but the relief was not enough to stop broader selling.
- Individual stock moves were mixed with Walmart and IBM notably weaker and Walt Disney stronger, illustrating how rate and inflation pressure can hit retailers and tech firms differently while boosting select media names.