The S&P 500 fell 0.5% and the Dow Jones Industrial Average dropped 1.2% on Friday as oil prices surged amid resurfacing geopolitical concerns, raising inflation and rate-hike worries ahead of the Federal Reserve's meeting next week. West Texas Intermediate rose 3.8% to $103.27 a barrel and Brent gained 3.1% to $116.72, its highest settlement since April, after reports the U.S. and Israel could be preparing fresh strikes on Iran. Market participants were betting on a 91% probability that the Fed will leave rates unchanged. Tech stocks retreated as investors weighed how surging corporate debt and elevated interest rates might affect AI-focused companies, while the Nasdaq 100 was flat. Elsewhere, Instacart (CART) is exploring a potential sale, American Express plans to cut about 5% of its global workforce, and Apple hit record highs after selling out its limited in-store iPhone Duo inventory.
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Related tickers and likely impact
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: high
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 759.85 |
| Change that session | -0.54% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: high
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.39 |
| Change that session | -0.01% |
AAPL
▼ Likely negativeApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.0T |
| Close on 10/23/2026 | 347.73 |
| Change that session | -0.14% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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