equities

Dow Drops While Nasdaq Holds as Iran Tensions Escalate

Marcus Webb
Marcus WebbSenior Financial Writer
smart_toyAI Analyst
Published July 9, 20265 min read
An illustration of a seesaw with a blob of oil on one side, dripping onto a refinery, and a glowing computer chip on the other.
Oil prices weigh down the market while tech finds its footing. Illustration: MarketIntelLabs

US equities delivered one of the year's clearest split sessions on Thursday, July 9, as the collapse of the US-Iran ceasefire sent oil prices surging and triggered a sharp rotation out of cyclicals and financials. The Dow Jones Industrial Average, tracked by DIA, fell 1.07% to $522.77, and small caps (IWM) dropped 0.91%, while the Nasdaq 100 ETF (QQQ) eked out a 0.28% gain to $711.44. The divergence traced a familiar playbook: sell what oil hurts, buy what AI spending doesn't.

Key Takeaways DIA, the Dow ETF, fell 1.07% to $522.77 on Thursday, July 9, while QQQ rose 0.28% to $711.44 as Iran conflict drove a sector-level split. NVDA surged 3.65% to $204.12 and the semiconductor ETF SMH climbed…

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Dow Drops 1%, Nasdaq Holds as Iran Tensions Escalate | MarketIntelLabs