US Stock Market Plummets Amid Rising Oil Prices and Middle East Tensions

The US stock market took a hit on September 9, 2026, due to rising crude oil prices and an intensified geopolitical crisis in the Middle East. The Dow Jones plummeted 628.18 points or 1.2% to close at 52,786.07, with major contributors to the decline including Amgen, which dropped over 10%, and Salesforce, down by 4%. Other notable decliners included Home Depot and Sherwin-Williams, each falling 2.3%, as well as Johnson & Johnsons, Nvidia, and Visa Ince, all of which declined around 2%.

The heavyweights like JP Morgan, Merck, IBM, Apple Inc, Microsoft, Walmart, Travelers Cos, Nike, and Boeing all fell by 1% to 1.5%. According to Charles Schwab's report, the major indexes mostly fell early due to rising Treasury yields and crude oil prices. The attacks on Saudi Arabia's oil facilities, tit-for-tat strikes between Iran and the US, growing trade tensions with Canada, and increasing prospects of central bank hikes combined forces in a 'stiff headwind', though 10-year note yields eased from early highs above 4.8%.

Nathan Peterson, director of derivatives research and strategy at SCFR, expressed caution about the resilience of US equities if the Iran conflict worsens and oil prices continue to rise, stating that 'I'm not sure how resilient U.S. equities will be'.