U.S. markets dropped as Trump's Fed chair pick stirred rates fear. Indian indices fell, snapping a 3-day rally ahead of the Union Budget. Get the latest on Dow Jones, S&P 500, Nasdaq, and Sensex.
Stock Market Today: Dow, S&P 500 Fall on Fed News; India Dips Pre-Budget | Jan 30, 2026
Global markets experienced a divergent trading day on Friday, January 30, 2026. In the United States, major indices closed in negative territory as investors digested the nomination of a new Federal Reserve chair and a fresh batch of corporate earnings. Ahead of the Union Budget presentation this weekend, investors became cautious, and Indian benchmark indices ended a three-day winning streak by ending down.
| Index | Last Price | Change | % Change |
|---|---|---|---|
| Dow Jones Industrial Average | 48,655.88 | -415.68 | -0.85% |
| S&P 500 Index | 6,932.61 | -36.40 | -0.52% |
| Nasdaq Composite | 23,527.62 | -157.51 | -0.66% |
| NYSE Composite | 22,621.66 | -253.80 | -1.11% |
The Dow Jones Industrial Average slipped 0.85%, signaling a broad market pullback. The fall was steeper than the S&P 500, driven by sharp losses in financial stocks after news of the Federal Reserve chair nomination. The move shows investors focusing on possible changes in monetary policy leadership and their impact on banking and industrial shares. Overall, the day reflected a move away from risk as policy uncertainty returned.
The S&P 500 index declined 0.52%, pulling back from recent levels. The index's movement was characterized by sector rotation, with materials, communication services, and technology acting as the primary drags. This weakness was somewhat mitigated by relative strength in the healthcare sector. The overall decline was caused by the fragmented environment generated by the varied company earnings reports, which included high-profile gains and misses. This precluded a united market direction.
The Nasdaq Composite fell 0.66%, extending its recent period of volatility. Although the loss was less severe than the previous session's tech-driven plunge, sentiment remained cautious. The nomination of a perceived hawkish candidate for Federal Reserve chair firmed the U.S. dollar and generally weighed on growth-oriented technology stocks. Investor appetite for high-valuation sectors cooled as the market reassessed the future interest rate environment under new leadership.
The NYSE Composite index dropped 1.11%, underperforming its U.S. peers. Since it tracks all common stocks on the New York Stock Exchange, the deeper fall shows that selling was broad-based rather than focused on big technology names that drive the Nasdaq. The performance points to a general risk-off sentiment across the market during the session.
Yes—but indirectly.
Gold and silver prices fell steeply, but the decline was not the direct reason behind the equity sell-off. Both markets instead reacted to expectations of tighter U.S. monetary policy.
Speculation around a more hawkish Federal Reserve under new leadership strengthened the U.S. dollar, prompting profit-taking across equities as well as precious metals. Rising interest rate expectations tend to make yield-bearing assets more appealing, which tends to lessen the appeal of gold and silver, which are generally regarded as safe havens amid market instability.
The impact was most visible in precious metal mining stocks. Shares of Newmont Corp., one of the world’s largest gold producers, fell more than 6.6% following the metals’ decline.
Overall, the fall in gold and silver was not the cause of the stock market weakness. Both moves reflected broader investor caution and uncertainty surrounding the future direction of U.S. monetary policy, with capital moving away from both risk assets and non-yielding commodities at the same time.
Indian markets ended their three-session rally, closing lower as investors secured profits and adopted a wait-and-see approach ahead of the Union Budget.
| Index | Last Price | Change | % Change |
|---|---|---|---|
| BSE Sensex | 82,269.78 | -296.59 | -0.36% |
| Nifty 50 | 25,320.65 | -98.25 | -0.39% |
