By William Collins, consultant in stock markets – Eurasia Business News, April 23, 2026. Article no 2087
The Nasdaq composite led indexes lower, down more than 1.5%. The Dow industrials fell 1.2%, about 600 points.
Oil prices are rising for a fourth straight session this morning, with the front-month Brent crude contract rising above $105 a barrel as traders grow increasingly uneasy over the lack of progress on U.S.-Iran diplomacy and tensions in the Strait of Hormuz.
Over in the bond market, the benchmark 10-year Treasury yield (US10Y) was 3 basis points higher at 4.34%, while the 2-year Treasury yield (US2Y) rose 3 basis points to 3.84%.
U.S. President Donald Trump has ordered the U.S. Navy to “shoot and kill” any vessel found placing mines in the Strait of Hormuz, adding that there will be “no hesitation.”
On the earnings front, Tesla (TSLA) was last -3.4% after investors factored in Elon Musk’s warning of heavy capital expenditure spending.
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The market weakness was broad enough to hit major U.S. indexes, but the Nasdaq’s larger drop suggests tech and other growth names were under more pressure than the market overall. The Dow’s roughly 600-point decline reflects a risk-off tone rather than a sector-specific story alone.
Rising crude prices have been tied to concern that Middle East conflict could disrupt supply or shipping routes. When oil climbs quickly, investors often worry about higher inflation, tighter margins, and slower economic growth, which can weigh on stocks.
On April 23 gold price was about $4,712 per ounce and silver price was about $76.88 per ounce in U.S. dollar spot pricing.
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Traders are also watching earnings, especially banks and other large companies, for clues on how geopolitical stress is affecting business conditions.
Iranian Parliament Speaker Mohammad-Bagher Ghalibaf has left the negotiating team, the Israeli TV channel Keshet 12 reported. According to the channel, this happened after the intervention of the Islamic Revolutionary Guard Corps (IRGC).
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© Copyright 2026 – Eurasia Business News. Article no. 2087
Eurasia Business News 