Wall Street ends lower as Iran tensions dampen risk appetite; chipmakers drop
By Stephen Culp and Ragini
Mathur
Mon July 13, 2026
The war has ramped up and consequently the markets have ramped down, all three indexes on a continuous downward spiral all day closing with 3-digit losses, the Nasdaq particularly hard hit closing down 408. The Dow suffered a little less due to oil spiking again, today up 9.4%, on account of further restricted traffic in the Strait of Hormuz. As today’s expert put it, “If the market were cheap, it’d be one thing. Now there’s less cushion and there continues to be a lot of unknowns.”