The Dow Jones Industrial Average lost about 410 points, or 0.8%, while the S&P 500 and the Nasdaq Composite each declined roughly 0.2%. Brent crude futures also rose, jumping more than 5%, according to The Wall Street Journal. A rate hike is not fully off the table — traders put that probability at just under 30%, according to The Wall Street Journal. Update, July 29, 2026: The Dow Jones Industrial Average dropped 750 points Wednesday morning, a steeper decline than the roughly 410-point loss previously reported. The average 30-year fixed mortgage rate climbed to 6.58% last week, its highest level in 11 months.