Dow Falls Amid Oil Price Surge and Weaker Economic Data

The Dow Jones Industrial Average fell by 0.31% on Monday, August 17, as investors weighed geopolitical risks and signs of a softer U.S. economy against expectations for a Federal Reserve rate hike.

The decline was led by energy stocks, which rose amid higher oil prices due to tensions in the Middle East and concerns about the Strait of Hormuz.

Nvidia shares gained 0.2% ahead of its earnings report, while Micron and SanDisk posted stronger gains of around 4.5% and 6.7%, respectively.

The Federal Reserve's rate hike expectations fell from 50% to 30% following weaker-than-expected U.S. retail sales and softer consumer sentiment.