Dow Jones falls 653 points as oil and AmEx weigh
Published on 10/23/2026 at 22:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOil and earnings shape losses
- Dow Jones closed at 52,215 points on October 23, down 653 points or 1.2 percent.
- Brent crude rose 3.1 percent above USD 116 as Middle East tensions intensified.
- American Express fell 3.7 percent after announcing plans to cut 5 percent of its workforce.
- October 28, 2026, 2:00 p.m. ET: The Federal Reserve is scheduled to announce its rate decision.
The Dow Jones closed at 52,215 points on October 23, down 653 points or 1.2 percent, as rising oil prices pressured stocks. Brent crude rose 3.1 percent above USD 116, its highest level since June 2022, AP News reported.
American Express was the Dow Jones' weakest stock, falling 3.7 percent after announcing plans to cut 5 percent of its global workforce. The index still gained 0.4 percent for the week, according to Kiplinger.
Why did the Dow Jones fall on Friday?
Geopolitical tensions involving the United States and Iran lifted oil prices and pushed Treasury yields higher. The 10-year Treasury yield reached 4.99 percent, while West Texas Intermediate crude rose 3.8 percent to USD 103.27, Kiplinger reported.
The move extended a volatile week for artificial-intelligence shares. Investors also assessed whether higher financing costs can support the sector's heavy investment plans.
Winners and losers in the Dow Jones
Late-session winners and losers cited by The Moscow Times included:
- Chevron up 1.8 percent: Higher oil prices supported the energy stock.
- Cisco Systems up 0.5 percent.
- Caterpillar down 3.0 percent.
- American Express down 3.7 percent: The company announced workforce reductions.
Energy stocks benefited from crude's rise, while financial and industrial shares added pressure. American Express said its restructuring charge totaled USD 336 million, Investopedia reported.
What comes next for the Dow Jones
- October 28, 2026, 2:00 p.m. ET: The Federal Reserve is scheduled to announce its interest-rate decision, Simianx reports.
- October 28, 2026, after 4:00 p.m. ET: Microsoft and Alphabet are scheduled to release quarterly results, CMC Markets reports.
- October 29, 2026, 8:30 a.m. ET: The United States is scheduled to release third-quarter gross domestic product and September personal consumption expenditures data, Simianx reports.
Dow Jones price data for October 23, 2026
The Dow Jones closed at 52,215 points on October 23, down 653 points or 1.2 percent, AP News reported. The previous close was 52,868 points, based on Yahoo Finance.
Dow Jones by the numbers on October 23, 2026
- Index: Dow Jones
- Home exchange: NYSE, United States
- Close on October 23, 2026: 52,215 points
- Change versus previous close of October 22, 2026: down 653 points (down 1.2 percent)
- Previous close: 52,868 points
- Top gainer: Chevron up 1.8 percent
- Top loser: American Express down 3.7 percent
- Next scheduled event: October 28, 2026, 2:00 p.m. ET: Federal Reserve interest-rate decision
