S&P 500, Nasdaq end down on tech stocks, investors weigh Iran moves

S&P 500, Nasdaq end down on tech stocks, investors weigh Iran moves

By Saeed Azhar, Purvi Agarwal and Niket Nishant

Mon August 24, 2026  

More threats against Iran plus now additional threats against allies trading with Iran continued to aggravate war worries and send tech down, the chips hit particularly hard. All of this was further exacerbated by the continuing and very omnipresent opposition to the building of AI centers with even Texas governor Abbott now joining the protests. All the turbulence has continued to push the 30-year bond higher with Bessent considering tapping into the $1T General Account to continue bond buybacks.  

Financials had a good day with JP Morgan Chase and Visa both gaining and contributing to the Dow’s 140 point gain for the day. All eyes are now on Nvidia’s Q2 coming later this week as well as Wednesday’s comments at Jackson Hole and PCE also on Wednesday. Nvidia is considered crucial for propping up stocks and Fed clarity on inflation plus the CPE crucial for the rest of it. Weak reports will just reignite already frayed nerves. In a separate issue, the threatened Canadian tariffs will not help inflation worries. At 14.36 billion, volume remains well below the 16.5 average. 

DJ: 53,277.01  +517.80       NAS: 26,180.46  +113.29        S&P: 7,674.37  +33.21         8/21

DJ: 53,417.16  +140.15       NAS: 25,980.19  -200.26         S&P: 7,652.86  -21.51           8/24

Mon 8-24-26 4:50 pm S&P 500, Nasdaq end down on tech stocks, investors weigh Iran moves | Reuters