---
title: "Wall Street Slides as Renewed US-Iran Tensions Drive Oil Higher"
publisher: "Share Talk"
author: "sharetalk"
published: "2026-07-29T14:57:03+00:00"
modified: "2026-07-29T14:57:03+00:00"
date: 2026-07-29
canonical: "https://www.share-talk.com/wall-street-slides-as-renewed-us-iran-tensions-drive-oil-higher/"
category: "Blogs"
categories: ["Blogs", "Technology", "Technology, Media & Telecoms"]
tags: ["Asia", "Bangkok", "Denmark", "Endeavour Mining", "Fed", "Federal Reserve", "Finland", "FRANCE", "FTSE 100", "GERMANY", "Glencore", "Greenland plan", "Hong kong", "Japan", "London", "Manila", "mining stocks", "Mumbai", "Nasdaq Composite", "NATO alliance", "Netherlands", "Nikkei 225", "Norway", "S&P 500", "shanghai", "Singapore", "Sweden", "Sydney", "Taiwan", "UK", "United States", "Wall Street", "Wellington"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/03/Wall-Street-27-march.webp?fit=1920%2C1536&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Wall Street Slides as Renewed US-Iran Tensions Drive Oil Higher

**Published:** July 29, 2026
**Author:** sharetalk
**Categories:** Blogs, Technology, Technology, Media & Telecoms
**Tags:** Asia, Bangkok, Denmark, Endeavour Mining, Fed, Federal Reserve, Finland, FRANCE, FTSE 100, GERMANY, Glencore, Greenland plan, Hong kong, Japan, London, Manila, mining stocks, Mumbai, Nasdaq Composite, NATO alliance, Netherlands, Nikkei 225, Norway, S&P 500, shanghai, Singapore, Sweden, Sydney, Taiwan, UK, United States, Wall Street, Wellington
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/03/Wall-Street-27-march.webp?fit=1920%2C1536&quality=80&ssl=1)

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US stocks opened sharply lower on Wednesday as renewed tensions between the **US and Iran** weighed on risk appetite and sent oil prices higher.

The **Dow Jones Industrial Average** fell **611 points**, or **1.16%**, to **52,136** in early trading.

The **S&P 500** dropped **0.4%** to **7,400**, while the technology-heavy **Nasdaq Composite** declined **0.5%** to **24,763**.

Chip stocks remained under pressure, although losses were less severe than during the previous session. **SanDisk** fell **3%**, **Advanced Micro Devices** dropped **1.7%,** and **Micron Technology** slipped **0.7%**.

**Western Digital** bucked the trend, rising **1.2%**.

Markets are contending with two major sources of volatility this week: continued weakness in artificial intelligence and semiconductor shares, and a sharp rise in energy prices following the renewed escalation in the Middle East.

**Brent crude** surged **6.7%** to **US$89.68 a barrel**, reviving concerns that higher energy costs could add to inflationary pressure and complicate the outlook for interest rates.

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