Shafaqna English– Investors on Wall Street drove the three benchmark indexes lower by the close of Monday’s(17 Aug 2026) trading, as they held back pending the release of retail-sector earnings reports that could shed light on consumer demand across the U.S. economy. At the same time, oil prices climbed amid growing perceptions that the U.S. and Iran were making no headway toward a diplomatic breakthrough.
Crude oil futures surged by over $2 per barrel at the settlement, fueled by growing pessimism among traders that diplomatic channels would fail to resolve the Iranian crisis, thereby exacerbating anxieties over energy supply disruptions. The rally in oil prices, in turn, underpinned the energy sector index, which rose 0.87% and was the sole gainer out of all 11 S&P 500 industry sectors at the end of the session.
Source: Reuters