Wall Street closed mostly lower on Wednesday, July 22, 2026, with the major indices posting modest declines across the board. The S&P 500 slipped 0.12% to settle at 7,481.57, while the Dow Jones Industrial Average was virtually flat, edging down just 0.01% to 51,818.47. The tech-heavy Nasdaq bore the brunt of the selling pressure, falling 0.51% to 25,604.21.
Small caps had an even rougher session, with the Russell 2000 dropping 0.93% to 2,926.15 — a signal that risk appetite is fading at the margins, particularly for more economically sensitive, smaller companies that tend to struggle when investors grow cautious about the broader growth outlook.
Gold remained a standout in the session, with the precious metal holding firm at $4,139.99, underscoring continued demand for safe-haven assets even as equity markets avoid a dramatic selloff. The elevated gold price reflects lingering macro uncertainty that has persisted through the summer.
Nvidia was the clear bright spot among large caps, climbing 2.30% to $212.06 and reminding the market that AI-driven enthusiasm hasn't fully faded. Meta Platforms, by contrast, led decliners with a 2.58% drop to $627.17, as pre-earnings jitters and spending scrutiny took a toll on shares.