Dow Falls Nearly 200 Points as S&P 500 and Nasdaq Snap Win Streaks Amid Earnings, U.S.-China Tariff Concerns, Oil Surge, and Fed Decision

U.S. stock markets closed lower on July 29, 2025, with the Dow Jones Industrial Average falling nearly 200 points, or about half a percent, while the S&P 500 and Nasdaq each declined roughly a third of a percent. The S&P 500 and Nasdaq snapped their recent winning streaks, retreating from record highs amid disappointing corporate earnings reports and ahead of a highly anticipated Federal Reserve policy statement. Investors are closely monitoring the Fed's decision for indications on the timing of potential interest rate cuts. Market sentiment was further weighed down by concerns over high stock valuations and ongoing uncertainties in U.S.-China tariff negotiations. Oil prices surged following former President Donald Trump's threat of new sanctions on Russia, while long-term U.S. Treasury yields fell sharply due to strong bond demand. Asian markets were also expected to decline as investors remained cautious amid modest progress in U.S.-China trade talks and persistent geopolitical and economic uncertainties.