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Fed Holds Rates, Wall Street Tumbles as Oil Swings on New Iran Strikes

   July 30, 2026 Wall Street booked its worst session since April on Wednesday after Iran fired ballistic missiles at U.S. forces in the Middle East and the Federal Reserve delivered its most divided vote in nearly a decade — holding rates steady but with three officials pushing for an immediate hike. The U.S. struck back overnight with what it called a "heavy wave" of attacks on Iran, and oil has swung sharply since. The TSX pulled back from Tuesday's record close, and Asian markets are mixed this morning as chip stocks keep sliding. Here's what moved markets overnight and what it means for your wallet. The headline: Fed holds at 3.50%–3.75% on a 9–3 vote (three dissents favouring a hike) · Dow -2.19%, its worst day since April · TSX -1.16% off Tuesday's record · Brent crude spiked to ~$89.60 Wednesday, then eased to ~$87 Thursday · USD/CAD choppy near 1.41 🇨🇦 TSX: Pulls Back From Tuesday's Record The S&P/TSX Composite fell 1.16% to close at 35,333.78 ...
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Stocks close mixed as tech pares losses


On Tuesday, January 9, 2024, the US stock market closed with mixed results. The Dow Jones Industrial Average (^DJI) slipped 0.4% or about 150 points. The benchmark S&P 500 ( ^GSPC) fell by nearly 0.2%, while the tech-heavy Nasdaq Composite ( ^IXIC) crawled above the flatline, in a reversal of earlier losses. The tech rally wavered after a Samsung profit warning took the shine off the sector. Samsung’s update weighed on hopes for a rebound in the PC and mobile sector, a key market for its memory chips. The Korean company said it expects a 35% drop in fourth-quarter operating income, far short of estimates, as demand continues to lag.

Investors are focusing on the December consumer inflation reading due Thursday and what it could mean for the chances of easing interest rates. Two Federal Reserve officials on Monday poured cold water on Wall Street’s already fading expectations that a cut could come in the next few months. The idea that inflation is cooling underpins investors’ belief that the US economy will skirt recession. That conviction faces a crucial test on Friday, when big banks kick off the fourth-quarter earnings season.

Oil prices ( CL=F) ( BZ=F) rose just under 2%, recouping some of Monday’s near 4% fall as investors weighed the impact of tensions in the Middle East and Saudi Arabia’s decision to cut crude prices.


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