Stock Market Today: Dow gains but S&P 500, Nasdaq drop as trade tensions rise; oil prices fall after 'Operation Outcast' against Iran announced
The Dow Jones Industrial Average rose while the S&P 500 and Nasdaq declined amid escalating trade conflicts between the US and Canada. Market volatility is driven by new tariffs and the announcement of Operation Outcast against Iran, which triggered a decline in oil prices. Tech stocks faced pressure as Nvidia shares sold off ahead of its earnings report. While some futures showed strength following a speech by Bessent regarding Iran, overall sentiment remains cautious due to geopolitical instability and upcoming economic signals from Jackson Hole.
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- ✓ The US and Canada are experiencing increased trade tensions involving tariffs.
- ✓ Nvidia shares experienced a sell-off prior to the company's earnings report.
- ✓ Oil prices declined following the announcement of Operation Outcast against Iran.
What changed
The announcement of Operation Outcast against Iran caused oil prices to fall.
Live updates
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Dow Gains as US-Canada Trade Tensions and Iran Military Action Impact Markets
The Dow Jones Industrial Average rose while the S&P 500 and Nasdaq declined amid escalating trade conflicts between the US and Canada. Market volatility is driven by new tariffs and the announcement of Operation Outcast against Iran, which triggered a decline in oil prices. Tech stocks faced pressure as Nvidia shares sold off ahead of its earnings report. While some futures showed strength following a speech by Bessent regarding Iran, overall sentiment remains cautious due to geopolitical instability and upcoming economic signals from Jackson Hole.
Why it matters
The US and Canada are currently engaged in a trade war affecting steel stocks and automakers. Simultaneous military escalations against Iran and high-stakes corporate earnings are creating fragmented movement across different market indices.
What is confirmed
- The US and Canada are experiencing increased trade tensions involving tariffs.
- Nvidia shares experienced a sell-off prior to the company's earnings report.
- Oil prices declined following the announcement of Operation Outcast against Iran.
Still unconfirmed
- The loonie is weakening as a result of the US-Canada trade war.
- Steel stocks are rising while automakers fall due to trade tensions.
- Dick's Sporting Goods shares were slammed on August 25.
What to watch next
- Nvidia earnings report release
- Economic policy signals from the Jackson Hole symposium
- Canadian government response to US tariffs
confidence 85%Sources used for this update (10)
- MarketWatch — Stock Market Today: Dow, S&P 500 and Nasdaq set to fall ahead of Nvidia earnings and Jackson Hole
- Investopedia — 5 Things to Know Before the Stock Market Opens on Monday
- CNBC — Canada tariffs, Bessent's buyback funding, Scott Kirby's plans for United and more in Morning Squawk
- Investor's Business Daily — Dow Jones Futures: Trump, Bessent Comments Spark Tech Losses; Nvidia Sells Off Before Earnings
- Reuters — TRADING DAY Tech, tariffs & Treasuries
- CNBC — CNBC Daily Open: Washington escalates on two fronts; Nvidia earnings in focus
- WSJ — U.S. Futures Higher, Yields Steady after Bessent Iran Speech
- Business Insider — US-Canada trade war heats up as steel stocks rise, automakers fall, and the loonie weakens
- Yahoo! Finance Canada — Stock market today: Dow, S&P 500, Nasdaq hold steady as US-Canada trade tensions heat up
- WSJ — Canada Strikes Back, Oil Declines and Dick’s Gets Slammed | Markets P.M. for August 25
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