Wall Street falls on Iran peace pessimism

On August 11, 2026, Wall Street ended lower as investors grew pessimistic about a potential US-Iran deal to stabilize the Middle East. The newly appointed secretary of Iran's Iran — Supreme National Security Council stated that the Strait of Hormuz would remain closed unless the US changes its behavior and accepts Iran's conditions to end the war. This statement dampened hopes for a resolution, pushing Brent crude futures near one-week highs and lifting the S&P 500 energy sector index by 1.1%. Major tech stocks declined, with Amazon dipping 2.1% and Alphabet falling 3.8%, while SpaceX dropped nearly 4%. In contrast, alternative asset managers Apollo Global and Blackstone rose 6.2% and almost 4% respectively, following their partnerships with Nvidia to establish compute-financing platforms aimed at mobilizing over $500 billion. The S&P 500 fell 0.32% to 7,728.20, the Nasdaq dropped 0.6% to 26,445.45, and the Dow Jones Industrial Average declined 0.34% to 53,791.85. Other notable movers included Jabil, which climbed 5.9% after a UBS upgrade, while On tumbled 20.3% after missing sales estimates and Liquefied natural gas fell 7.3% after missing revenue estimates. Upcoming inflation data and the United States — Federal Reserve's policy path, with Chair Kevin Warsh aiming to reduce guidance, remain key market drivers.