US stocks today: S&P 500, Nasdaq retreat as rally momentum begins to fade

Wall Streets main indexes retreated after hitting intraday record highs as investors weighed Middle East developments and a fresh wave of earnings. Optimism over potential diplomacy with Iran supported sentiment, but analysts warned the rally remains largely sentiment-driven without strong economic backing.

Apr 16, 2026 - 21:00
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US stocks today: S&P 500, Nasdaq retreat as rally momentum begins to fade
Wall Streets main indexes retreated after hitting intraday record highs as investors weighed Middle East developments and a fresh wave of earnings. Optimism over potential diplomacy with Iran supported sentiment, but analysts warned the rally remains largely sentiment-driven without strong economic backing.

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