Wall Street ends down as expectations of Hormuz deal fade

Wall Street ends down as expectations of Hormuz deal fade

By Caroline Valetkevitch and Noel Randewich

Mon August 10, 2026  

The peace negotiations have become a sticky wicket with Tehran now demanding compensation for all the damage done by U.S. strikes during this war and Trump countering by demanding compensation for all lives lost in the war. Suddenly a deal to reopen the Strait of Hormuz appears at a standstill and with hopes fading for this critical aspect of the negotiations which could bring down the price of oil and help stabilize inflation, the markets turned downward. The Nasdaq closed down the hardest, the S&P stayed pretty close to flat after Friday’s record.  

The Dow dipped almost 200 by 3:30 before recovering most of the day’s losses in the final ½ hour. Both Intel and Nvidia dropped on the news they were raising many billions more for AI, Intel $15B, Nvidia $500B. Friday’s weak jobs report has taken the odds of a September hike to 52% vs 55 last week. More chip companies are reporting later this week. 85% of the S&P has reported Q2 with most beating estimates. Volume came in at 15.9 billon, losing ground again against the 17.56 4-week average. 

DJ: 54,036.93  +151.83        NAS: 26,690.62  +342.26       S&P: 7,757.64  +47.68         8/7

DJ: 53,975.98  -60.95           NAS: 26,605.36  -85.26          S&P: 7,753.11  -4.53             8/10

Mon 8-10-26 4:25 pm Wall Street ends down as expectations of Hormuz deal fade | Reuters