US Stocks Slip From Records Amid Rising Oil Prices and Inflation Concerns
US stocks slipped further from their record heights on Monday, August 17, 2026, due to rising oil prices putting pressure on inflation and financial markets. The S&P 500 fell 0.5% after dropping 40.70 points to 7,745.06.
The Dow Jones Industrial Average also dipped 0.5%, losing 272.63 points to 53,459.78. Meanwhile, the Nasdaq composite dropped 0.3% with a decline of 84.25 points to 26,644.91.
Despite these losses, major US stock indexes remain near their all-time highs due to booming profits from big US companies. The S&P 500 is up 13.1% for the year, while the Dow has risen 11.2%. The Nasdaq and Russell 2000 indices have also seen significant gains, with increases of 14.6% and 23.2%, respectively.
L3Harris Technologies was among the notable losers, falling 4.6% after its CEO and chairman, Christopher Kubasik, stepped down. Alphabet, parent company of Google, dipped 0.5% despite Berkshire Hathaway's increased investment in it, along with several homebuilders.