Dow Jones leads Wall Street lower at the close, US-Iran fears drive oil higher
4:08pm: Stocks slip US stocks remained in negative territory at the close, as oil prices rallied on US-Iran tensions. The Dow Jones was down 0.5% at 49,395 points, while the S&P 500 and Nasdaq were both down 0.3% at 6,861 points and 22,682 points, respectively. 3:30pm: Proactive news...
Dow Jones leads Wall Street lower at the close, US-Iran fears drive oil higher
Last updated: 16:08 19 Feb 2026 EST, First published: 07:46 19 Feb 2026 EST
4:08pm: Stocks slip
US stocks remained in negative territory at the close, as oil prices rallied on US-Iran tensions. The Dow Jones was down 0.5% at 49,395 points, while the S&P 500 and Nasdaq were both down 0.3% at 6,861 points and 22,682 points, respectively.
3:30pm: Proactive news headlines
Ganfeng Lithium has completed the first shipment of lithium chloride from its Mariana project in Argentina, a milestone that has welcomed by royalty-holder TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF). M2i Global Inc (OTC:MTWO) announced that it and Volato Group (NYSE:SOAR) have entered a Strategic Collaboration Agreement with SMX (NASDAQ:SMX), a company focused on supply chain traceability and integrity solutions. Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF, FRA:FLM1) has appointed DRA Global Limited to lead the preliminary feasibility study (PFS) for its Berenguela silver-copper-manganese project in southern Peru, marking a step forward in the project’s development. NanoViricides has provided an update on the development of its investigational antiviral NV-387, alongside the filing of its quarterly report for the fiscal quarter ending December 31, 2025. AtaiBeckley NV (NASDAQ:ATAI, XETRA:9VC) announced that it has appointed Michael Faerm as chief financial officer, effective March 9, 2026, as the clinical-stage biotechnology company continues to advance its mental health treatment pipeline.
2:30pm: Market movers
Wayfair Inc (NYSE:W) posted fourth quarter revenue growth that exceeded Wall Street expectations, but saw its shares drop about 11% amid concerns over customer growth. Klarna Group PLC (Unlisted (US):KLAR) saw its shares drop almost 25% following the release of its fourth-quarter results after the company reported a wider-than-expected net loss, despite recording its first $1 billion quarter. Etsy Inc (NASDAQ:ETSY, XETRA:3E2) shares jumped more than 11% on Thursday after the company announced it will sell its fashion resale app Depop to eBay for approximately $1.2 billion in cash, as the online marketplace reported mixed fourth quarter financial results. Shares in Deere & Company (NYSE:DE, XETRA:DCO), the American agricultural and construction equipment manufacturer, jumped almost 11% on Thursday after the company reported a sharp drop in first-quarter net income despite raising its full-year profit forecast.
1:32pm: OpenAI closing in on $100B raise
OpenAI is reportedly close to completing the first phase of a funding round that could exceed $100 billion, according to Bloomberg, a move that would mark a record raise for the company and support expansion of its artificial intelligence tools and infrastructure.
Early discussions place OpenAI’s pre-money valuation at around $730 billion, with the overall valuation potentially reaching $850 billion if the round closes at the reported size.
Sources noted that the final figure may shift as the funding process continues, reflecting strong investor interest.
The initial tranche is expected to involve strategic investors such as Amazon, SoftBank, Nvidia, and Microsoft, with subsequent tranches targeting venture capital firms, sovereign wealth funds, and other financial investors.
12:12pm: Eyes on Iran
US stocks remained in negative territory in the early afternoon investors waited for an update on potential US military action in Iran.
“In a quieter period for markets today news, or lack of it, around Iran is the driver for the day,” IG's Chris Beauchamp said. “Each time President Trump sounds more conciliatory the market rallies, while hints of action cause it to weaken.”
Beauchamp added that climbing volatilty signals continued worries. “Earlier in the week it looked like we had another typical volatility slam, given sharp drop in the Vix. But the index has turned around as geopolitics dominates the headlines frustrating any attempts at mounting a sustained bounce in beaten-down sectors like software,” he said.
"This could go on for some time, since it is far from certain that the US will make a move, despite the extensive (and expensive) buildup around Iran.”
11:01am: US trade deficit widens
The US trade deficit widened by $17.3 billion in December, driven by a $5 billion decline in exports and a more than $12 billion jump in imports.
According to Wells Fargo analysts, while the move appears large, much of the widening was due to the trade of non-monetary gold, which is excluded from GDP calculations, muting its effect on overall economic growth.
Wells Fargo noted that prior to the report, trade was expected to add roughly 0.7 percentage points to fourth quarter GDP growth. With the stronger-than-anticipated import figures, the boost from trade is now likely smaller, and could even slightly drag on growth.
Despite the headline increase in imports, analysts emphasized that overall goods imports for the year were down, particularly once the surge in high-tech related imports is excluded.
They also suggest that last year’s pullback in imports may be overstated, reflecting caution ahead of potential 2025 tariffs. “Looking ahead there will inevitably be more rejiggering in supply chains, but we see scope for a modest ascent in imports in spite of tariffs in the year ahead,” they wrote.
10:15am: In the red
US stocks kicked off Thursday’s session lower as geopolitical tensions continued to send oil prices higher.
The Dow Jones fell 0.5% at 49,425 points, the S&P 500 was down 0.3% at 6,863 points, and the Nasdaq was down 0.2% at 22,704 points.
Meanwhile, initial jobless claims for the week ending February 14 saw their largest drop since November, the Department of Labor said. Claims fell 23,000 to 206,000, below expectations of 225,000.
Continuing claims, which represent people who continue to receive benefits, increased by 17,000 from the previous week to 1.87 million.
7:45am: Ahead of the bell
US stock futures fell on Thursday as rising fears of a military strike on Iran pushed oil prices sharply higher, while investors digested cautious signals from Federal Reserve minutes.
Contracts on the S&P 500 and the tech-heavy Nasdaq 100 dropped 0.3% and 0.2% respectively, reversing earlier gains, with Dow Jones futures also sliding 0.25% after solid gains across major benchmarks the previous session.
Brent crude climbed above $71 a barrel and West Texas Intermediate neared $66 following a report from Axios, the news website, that the Trump administration is edging toward conflict with Iran, fuelling the biggest daily jump in oil prices since October, while gold rose back above $5,000 an ounce.
Minutes from the Fed's January policy meeting revealed deep divisions over interest rates, with some policymakers floating the possibility of hikes amid persistently high inflation.
Walmart, the retail giant, posted modest fourth-quarter earnings beats under its new chief executive, but shares fell around 3% in premarket trading as investors scrutinised the company's holiday sales performance.