The major U.S. stock indexes ended **mixed** on Wednesday, **July 8, 2026**, as the Iran ceasefire officially collapsed and **FOMC minutes confirmed several Fed members wanted to hike rates** at the June meeting, delivering a double dose of bad news that sent the Dow tumbling more than 576 points while tech managed a modest hold. It was a brutal session for old economy stocks, with oil surging back above $74 as the war risk premium returned in force.
The **S&P 500** dropped **0.28%** (-21.14 pts) to **7,482.71.** The **Dow** tumbled **1.09%** (-576.76 pts) to **52,348.39.** The **Nasdaq** eked out a gain of **0.20%** (+51.96 pts) to **25,870.65.** The **Russell 2000** fell **1.06%** (-31.76 pts) to **2,950.73.**
The **VIX** jumped **3.77%** to **16.74.** **Gold** dropped **1.57%** to **$4,092.00.** **Crude Oil** surged **5.07%** to **$74.01/barrel.**