S&P 500 ends down after Trump says Iran deal is 'over'
Wed July 8, 2026
The bad war news today (or should I say peace news) brought all the indexes down except the Nasdaq which, though sunk by almost 300 by noon, had an afternoon comeback that got it modestly into the black. The same thing happened to the S&P though the comeback there still kept it modestly in the red. The Dow was down almost 900 by noon but with a much more modest recovery that still left it well into the red. What pushed tech back up was an Apple announcement that it was buying $30B of chips from Broadcom to put in the 2.5B Apple devices people use globally.
Nvidia also contributed when it rose 3.65% after China said its top AI firms would buy some of its chips. The chip index rose 2.23%. Bad news included oil prices jumping 5.2% after Trump’s announcement, a selloff in bonds, and the IMF once again lowering the global growth forecast to 3%, citing the war. Today’s expert summed it up, “Duration is the key here. How long does this go on?” The continuous uncertainty and back and forth has left investors muddled. Traders still expect a rate hike in December. For a third day, volume was exceedingly light coming in at 17.8 billion against the 4-week average of 23.0 billion.
DJ: 52,925.15 -130.76 NAS: 25,818.69
-302.47 S&P: 7,503.85
-33.58 7/7
DJ: 52,348.39 -576.76 NAS: 25,870.65
+51.96 S&P: 7,482.71
-21.14 7/8
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