The S&P 500 was down 4.2% in afternoon trading, more than other major stock markets, and at its bottom in the morning was on track for its worst day since Covid struck in 2020. The Dow Jones Industrial Average was down 1,394 points, or 3.3%, as of 2:09 p.m. Eastern time, and the Nasdaq composite was 5.3% lower.
Any relief rally in markets likely limited and temporary: David Roche
Global markets are reacting prematurely to geopolitical shifts, according to macro strategist David Roche. He argues that recent oil and equity market moves reflect speculation
May 25, 2026