Stock Market Update Wednesday July 29, 2026 U.S. equities came under heavy selling pressure following the Federal Reserve’s decision to leave benchmark interest rates unchanged. The risk-off move accelerated throughout the session, with the Dow Jones Industrial Average tumbling more than 1,150 points for its steepest one-day decline since April 2025. The S&P 500 and Nasdaq Composite lost 1.52% and 1.74%, respectively, as investors reassessed the outlook for monetary policy and interest rates.
Away From Stocks: Yields were higher into the Fed, sold off immediately after the Warsh presser began, then ended the day near where they began, higher to 4.67%. The move back to those levels by the end of the day essentially killed the equity rally. Oil: Geopolitical tensions and ongoing war-related headlines remained a key source of day-to-day market volatility and contributed to growing speculation ahead of the FOMC meeting that the Fed could maintain a hawkish stance. WTI crude settled near $85 per barrel. U.S. Dollar (DXY): he DXY finishing near 100.80. Gold: A softer U.S. dollar provided a strong tailwind for precious metals, helping gold rally to approximately $4,150 per ounce. Bitcoin remained relatively resilient. The VIX briefly climbing above 20 before retreating to 17.50 during the post-Fed relief rally. That move proved short-lived, however, as renewed selling pressure pushed the VIX back above 20 by the close, underscoring the market’s heightened uncertainty and fragile risk sentiment.
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