Stocks close lower on fading hopes for quick Iran deal, mixed quarterly earnings
By Chuck Mikolajczak and Niket
Nishant
Thu April 23, 2026
At 1 pm there was a drastic plunge in all the indexes, the Dow down over 600 by 2 pm as news came to an already war-weary and skeptical market that one of Iran’s key negotiators had resigned and further fell when oil prices rose on reports of renewed air attacks on Iran. But by 2 pm, as investors have been inclined to do, war news went on the back burner and the focus returned to the very strong Q1.
But the losses were taken in stride as, per today’s expert, “We had a big run and there are people looking to take some exposure off.” About ¼ of the S&P has reported with 82.1% beating estimates. Earnings growth today also increased to 15.6% up from 14.4% in early April. A renewed concerned over AI hurting software companies brought the tech index down 1.47% and the software and services sector down just over 5%. Volume at 17.41 billion remains below the 18.33 average.
DJ: 49,490.03 +340.65 NAS: 24,657.57
+397.60 S&P: 7,137.90
+73.89 4/22
DJ: 49,310.32 -179.71 NAS: 24,438.50
-219.06 S&P: 7,108.40
-29.50 4/23
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