The Quincy News Morning Brief | Wednesday, July 8, 2026
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap Chip fears hit Wall Street again Tuesday, sending the Nasdaq sharply lower and weighing on the broader market. The S&P fell 0.45% to 7,503.85, the Nasdaq dropped 1.16% to 25,818.69, and the Dow slipped 0.25% to 52,925.15 after briefly touching a record intraday high. Micron fell 4.7% and Sandisk lost roughly 5%, sending chip stocks lower as investors questioned how much room is left in the AI trade. Oil rose after Iran attacked three commercial vessels near the Strait of Hormuz, while the 10-year Treasury yield climbed to about 4.54%.
Today’s Focus The Iran situation escalated overnight. President Trump declared the U.S.-Iran ceasefire “over” following attacks on several commercial vessels near the Strait of Hormuz, and the U.S. launched retaliatory strikes on Iranian military sites. Oil is surging more than 6% in premarket trading, and yields are climbing on renewed inflation fears. The Fed’s June meeting minutes are released at 2:00 p.m. ET, which should offer a fuller look at how policymakers were weighing growth against still-elevated inflation at the June meeting.
ON THE SCHEDULE Wednesday, 1:00 p.m. ET – 10-year Treasury note reopening Wednesday, 2:00 p.m. ET – FOMC minutes from the June 16-17 meeting Thursday, 8:30 a.m. ET – Initial jobless claims Thursday, 1:00 p.m. ET – 30-year Treasury bond reopening
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