Stocks Selling Off as Oil Prices, Capex Concerns Build

Wall Street is swimming in red ink midday as inflation fears, capex concerns, and spiking oil prices pressure investors. The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are down 549 and 661 points, respectively, thanks to sharp Alphabet (GOOGL) and Tesla (TSLA) post-earnings selloffs. The S&P 500 Index (SPX) is also lower, as the 10-Year Treasury yield climbs above 4.7% for the first time in 2026.

All three major indexes are heading for their fifth loss in the last six trading days. Elsewhere, oil prices have blown past $90, after President Donald Trump threatened retaliation against Houthi militants attacking Saudi Arabian tankers.

Continue reading for more on today's market, including:

• It's our 45th birthday! Celebrate with our special stock pick report.
• More on the post-earnings Tesla landscape.
• Plus, retail bears pounce; Honeywell stays strong; and Nokia stock chops lower.

SPDR S&P Retail ETF (NYSE:XRT) is seeing a massive spike in options volume today. At last look, 14,000 puts have changed hands, volume that's 12 times the average intraday amount and in the 100th percentile of its annual range. The September 85 put is the most popular, while new positions are being bought to open at the August 80 put. XRT is down 2.6% to trade at $86.44 today, trying to hold its year-to-date breakeven level.

Honeywell International Inc (NASDAQ:HON) stock is trying to keep the Nasdaq afloat, last spotted up 6.6% to trade at $248.49. What's more, the industrial conglomerate posted a second-quarter beat-and-raise in its first post-spinoff report. On the charts, Honeywell stock is running out of steam at $250 but is 21% higher on the year and pacing for a sixth win in seven sessions.

Nokia Oyj (NYSE:NOK) stock is a notable laggard on the New York Stock Exchange (NYSE) today, sinking 4.1% to trade at $9.86. The Finnish telecom supplier reported a top-line beat and hiked its current-quarter guidance, however, the shares have pivoted into the red. Although AI demand powered the triple play, broader AI trade concerns are likely an anchor today. NOK is up 54% in 2026.