Dow Jones falls 490 points as oil tops USD 100 at midday
Published on 10/23/2026 at 19:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOil and earnings pressure
- At 12:00 p.m. ET on October 23, the Dow Jones stood at 52,378 points, down 490 points or 0.9 percent.
- WTI crude traded at USD 101.34 as oil prices pressured stocks and AI spending concerns persisted.
- American Express was the Dow Jones' weakest stock, down 3.3 percent after its earnings release.
- Verizon earnings are scheduled for October 26, 2026, at 8:30 a.m. ET.
At 12:00 p.m. ET on October 23, 2026, the Dow Jones stood at 52,378 points, down 490 points or 0.9 percent. Rising oil prices and renewed doubts about artificial-intelligence spending pressured U.S. stocks.
American Express was the Dow Jones' weakest component, down 3.3 percent after its quarterly release. The company exceeded adjusted earnings expectations but reported revenue below consensus, according to Benzinga.
Why is the Dow Jones down today?
West Texas Intermediate crude traded at USD 101.34, up 1.88 percent in early trading, while Brent crude rose to USD 115.86 by 11:12 a.m. ET. Higher oil prices added to inflation and rate concerns, while doubts about the returns from artificial-intelligence investment kept technology shares volatile, Nasdaq reported.
U.S. economic data provided a mixed signal. The preliminary October manufacturing purchasing managers' index (PMI) rose to 56.0 against expectations for 55.5, while the services PMI fell to 57.9 against 58.0. Final University of Michigan consumer sentiment was revised to 48.0 from 46.3, compared with expectations for no revision, Morningstar reported.
Dow Jones range reaches 52,055 points
The index opened at 52,788 points and reached a session high of 52,697 points. It later touched a low of 52,055 points before recovering part of the early decline.
Winners and losers in the Dow Jones
At 10:17 a.m. ET, a market table carried by The Moscow Times showed the following Dow Jones movers:
- Chevron up 1.8 percent
- Cisco Systems up 0.5 percent
- Microsoft up 0.2 percent
- Caterpillar down 3.0 percent
- American Express down 2.7 percent
- Home Depot down 2.6 percent
Energy stocks benefited from higher crude prices, while industrial and financial shares weakened. American Express and Home Depot together contributed about 111 Dow points to the decline earlier in the session, according to MarketWatch.
What comes next for the Dow Jones
- October 26, 2026, 8:30 a.m. ET: Verizon is scheduled to release earnings before the open, with consensus EPS of USD 1.27, StockTitan reports.
Dow Jones price data for October 23, 2026
At 12:00 p.m. ET on October 23, 2026, the Dow Jones was at 52,378 points, down 490 points or 0.9 percent from the previous close of 52,868 points, according to Markets Insider. The open was 52,788 points, with a high of 52,697 points and a low of 52,055 points.
Dow Jones by the numbers on October 23, 2026
- Index: Dow Jones
- Home exchange: NYSE, United States
- Level at 12:00 p.m. ET on October 23, 2026: 52,378 points
- Change versus previous close of October 22, 2026: down 490 points (down 0.9 percent)
- Previous close: 52,868 points
- Open: 52,788 points
- Day high / day low: 52,697 points / 52,055 points
- Top gainer: Chevron up 1.8 percent
- Top loser: Caterpillar down 3.0 percent
- Next scheduled event: October 26, 2026, 8:30 a.m. ET: Verizon earnings
