2026-09-08 · Oil Spike Splits Dow From Nasdaq
An oil-driven spike sent the Dow sharply lower while the Nasdaq barely moved, and the market's only one-sided signal today pointed to distribution inside the Dow's own old-economy stocks, not a broader top.
The Signal
The first full trading session since Friday opened rough: fighting in the Middle East escalated over the long weekend, including strikes on Saudi energy infrastructure, and Brent crude jumped to its highest level in years. The Dow fell sharply while the Nasdaq barely budged, and a separate shock hit healthcare after a major pharmaceutical name dropped hard on a…
The skinny
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