Dow Jones falls 653 points as Brent oil hits its highest since April

Friday, 23 October, was a nervous day on Wall Street. The Dow Jones fell 652.82 points, or 1.23%, to 52,215.16. The S&P 500 lost 0.52% to close at 7,623.68, and the Nasdaq slipped 0.21% to 25,955.34. On Thursday the selling hit tech companies; on Friday it spread to the rest of the market.

Oil was the main reason. Brent rose 3.1% to $116.72 a barrel, its highest level since 29 April. WTI rose 3.8% to $103.27. According to CNBC, markets fear that the US-Iran conflict will flare up again. Against this backdrop, Exxon Mobil, Chevron and ConocoPhillips shares hit all-time highs.

The Dow Jones fell more than the other indexes: on Friday the selling moved beyond tech to banks, industrials and consumer stocks. American Express, Caterpillar and Goldman Sachs dragged it down. American Express shares fell 3.7%: the company is cutting about 5% of its global workforce and says it needs to prepare for AI. Caterpillar lost about 2%, Goldman Sachs more than 1%.

Pricier fuel hit discount store chains. Wells Fargo analysts warned that rising diesel prices could cut third-quarter profit at Dollar Tree and Dollar General by about $25m, and their shares were down around 5% at midday. Chipmakers, on the other hand, won back some losses: Micron rose almost 3% and AMD almost 2%.

Bonds changed direction too. On Thursday investors rushed into US Treasuries, and the 10-year yield fell the most in a single day in three and a half years. On Friday it rose again, to almost 5%. For the week the Dow Jones still gained 0.4%, while the S&P 500 and Nasdaq lost 0.5% and 0.7%.

已确认的事实

• On 23 October the Dow Jones fell 652.82 points, or 1.23%, to close at 52,215.16.^[1][2]
• The S&P 500 fell 0.52% to 7,623.68 and the Nasdaq 0.21% to 25,955.34.^[1][2]
• Brent rose 3.1% to $116.72 a barrel, its highest since 29 April; WTI rose 3.8% to $103.27.^[1][2]
• Oil rose on fears that the US-Iran conflict would flare up again.^[1][2]
• American Express shares fell 3.7% after it announced cutting about 5% of its workforce; Caterpillar lost about 2%, Goldman Sachs more than 1%.^[1][2]
• Exxon Mobil, Chevron and ConocoPhillips traded at all-time highs.^[1]
• Wells Fargo estimated that pricier diesel could cut Dollar Tree and Dollar General third-quarter profit by about $25m; their shares were down around 5% at midday.^[1]
• The 10-year US Treasury yield rose to almost 5% after its biggest one-day drop in three and a half years on Thursday.^[1][2]
• For the week the Dow Jones gained 0.4%, the S&P 500 lost 0.5% and the Nasdaq 0.7%.^[1]

影响

• 已确认Expensive oil squeezes the profits of companies that spend a lot on fuel and delivery.
• 我们的解读If oil stays above $100, it could push up US inflation and delay rate cuts.
• 我们的解读Bond yields near 5% make loans and mortgages more expensive.

仍未知

• Whether the US-Iran conflict actually escalates or the market's fear fades.
• How the market opens on Monday after the weekend news.
• Whether higher fuel prices show up in inflation in the next data.

影响到谁

United States. People who hold US stocks or index funds and follow oil prices

来源

1. CNBC: Dow tumbles more than 600 points as oil prices rise and market sell-off hits most sectors 2026年10月23日 · 媒体
2. The Wall Street Journal: Stock Market News, Oct. 23, 2026: Dow Slides as Oil Prices Climb to Highest in Five Months · 媒体