The S&P 500 and Nasdaq Composite also fell about 0.4%, while Bitcoin held near $64,500 as the equity pullback broke a rally tied in part to easing US-Iran tensions.
U.S. stocks pulled back on August 6, snapping Wall Street’s recent rally as the Dow Jones Industrial Average fell roughly 343 points, or 0.63%, to close near 54,005. The retreat ended a six-session run of gains that had pushed the Dow, S&P 500 and Nasdaq Composite to fresh records. The S&P 500 and Nasdaq Composite each declined about 0.4%. Losses were uneven across sectors, with IBM down 1.89%, UnitedHealth off 1.06% and Cisco lower by 0.86%, while Disney rose 1.71%, Nvidia gained 1.62% and Merck added 1.33%. The prior advance had been supported in part by easing geopolitical tensions between the US and Iran, which helped send oil prices lower, with President Trump’s diplomatic shift on Iran forming a key part of the market narrative over the past week. Bitcoin, by contrast, traded near $64,500 and remained relatively steady, with no obvious direct link between the stock-market pullback and crypto pricing. Even after the decline, the Dow remained well above its most recent all-time high after hitting a record of 53,178 on August 3.