Huo Xing Finance reports that on August 7, according to BIT (bit.com) market data, the three major U.S. stock indices closed lower: the Dow Jones fell 0.85%, the S&P 500 dropped 0.18%, and the Nasdaq declined 0.06%. Microsoft rose over 2%, reaching its highest level since November last year. Renewed geopolitical risks sparked a sharp rally in oil prices, up more than 3%, while inflation pressures reemerged, pressuring U.S. equities. Market focus now shifts to the non-farm payroll report due to be released on Friday. Despite reporting better-than-expected earnings yesterday, SanDisk and Western Digital still plunged, dragging down the entire storage sector: the Roundhill Storage ETF fell over 4%, Western Digital dropped more than 13%, Kioxia ADR and SanDisk slid over 6%, SK Hynix declined about 5%, and Micron Technology fell over 1%. U.S. AI application software stocks tumbled sharply: Datadog and AppLovin dropped over 19%, EPAM Systems fell over 15%, and Axon Enterprise plunged over 14%.
U.S. Major Indices Decline as Market Waits for Nonfarm Payrolls and U.S.-Iran Deal
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Summary
U.S. major indices declined on August 7, 2026, with the Dow down 0.85%, the S&P 500 at -0.18%, and the Nasdaq slipping 0.06%. Rising geopolitical tensions and inflation concerns kept the Fear & Greed Index in negative territory. Investors are closely monitoring the upcoming nonfarm payrolls report. Storage sector stocks plunged sharply despite strong on-chain data from Western Digital and Kioxia. AI application software names such as Datadog and AppLovin fell over 19%.
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