Stock Market Today: Oil Drops as Investors Await Bessent's Plan to Squeeze Iran -- WSJ

By Caitlin McCabe

A retreat in oil prices is offering relief to bond yields as investors await details on Washington's stepped-up economic pressure campaign against Iran.

Treasury Secretary Scott Bessent is expected to outline plans to inflict an "economic D-Day" on Iran at a press conference at 1 p.m. ET. Brent crude futures are on pace to break six straight sessions of gains, and the dollar has paused its recent slide.

Meanwhile, U.S. stocks are starting the week on a mixed note, with the Nasdaq dragged lower by chip stocks and the Dow trending higher.

Those moves follow a tumble in major tech shares in Asia, including Alibaba after it launched a $10.2 billion share sale to fund its artificial intelligence spending.

This will be a big week for traders, with Nvidia earnings on Wednesday and Fed Chairman Kevin Warsh's speech at Jackson Hole on Friday. The Fed's preferred inflation gauge is also due out Wednesday.

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August 24, 2026 12:44 ET (16:44 GMT)