U.S. equities closed out a fourth consecutive losing week — the longest streak of 2026 — as the Iran war kept oil near $97 and the Fed's hawkish hold left markets pricing just one rate cut by December.
The S&P 500 breached its 200-day moving average for the first time since May 2025 as the Dow settled at a new 2026 closing low. Oil volatility and JPMorgan's forecast cut drove broad selling pressure Thursday.
FOMC voted 11-1 to keep rates at 3.5%–3.75% and pared the 2026 easing signal to one cut. Stocks fell to 2026 lows — Dow −768 pts, S&P 500 −1.36% — as core PCE forecasts were revised up to 2.7%.
All 11 S&P 500 sectors advanced for the first time since Iran's Hormuz closure. S&P gained 0.66% to 6,760, Dow up 0.91%, yield at 4.20%, ahead of Wednesday's FOMC.
US Market Updates provides data-driven analysis of American equities, Federal Reserve policy, sector performance, and key economic indicators. Our coverage is sourced from exchanges, the Federal Reserve, and government statistical agencies — written for readers who demand substantive market intelligence beyond the headlines.
