Markets Split as Oil Price Plunge Clashes with Tech Sector Anxiety

The Dow Jones Industrial Average managed a 0.41% gain, closing at 51,983.98, buoyed by the cheaper cost of crude. In contrast, the S&P 500 slipped 0.51% to 7,541.40, and the Nasdaq Composite bore the brunt of the session’s sentiment shift, falling 1.07% to 25,164.32. The sharp decline in oil—which shed $7.66 to settle at $96.46 a barrel—came after Iranian Foreign Minister Abbas Araghchi confirmed ongoing discussions with Qatari mediators.

Treasury yields largely retreated as the sudden drop in energy costs eased immediate inflation concerns. The 10-year note yield ticked down 0.035 percentage point to 4.893%, while the 30-year bond yield dropped 0.041 percentage point to 5.268%. Only the two-year Treasury defied the trend, edging up 0.002 percentage point to 4.581% as traders parsed the mixed signals between commodity deflation and the cooling appetite for AI-linked technology stocks.