Dow ends lower, with S&P flat, as Intel's outlook weighs on risk appetite

Dow ends lower, with S&P flat, as Intel's outlook weighs on risk appetite

By David French

Fri January 23, 2026 4:56 PM

Tech was topsy-turvy and the Dow went straight south as the indexes continue to recover from Tuesday’s huge losses. Today both the Nasdaq and S&P came within a stone’s throw of recouping losses and though the Dow did recoup yesterday by a slim margin, the 285 point loss today put them back into negative territory. Thus, the week remained a loser on all counts, though only slightly so. Tech would have had a better day except for disappointing news from Intel.  

Overall, though, market and economic indicators remain positive and next week comes several of the Mag7 reports. Due to the midterms next fall, volatility is expected to continue all year. The other minus is that this may be the year that AI begins to falter unless the huge investments that have been made begin translating into revenues. But the good news earlier this week from Taiwan has still left investors very hopeful on AI.  Volume came in at 17.34 billion, still above but getting much closer to the 17.07 average. 

DJ: 49,384.01  +306.78       NAS: 23,436.02  +211.20       S&P: 6,913.35  +37.73           1/22

DJ: 49,098.71  -285.30        NAS: 23,501.24  +65.22         S&P: 6,915.61  +2.26             1/23

Fri 1-23-26 4:00 pm Dow ends lower, with S&P flat, as Intel's outlook weighs on risk appetite | Reuters