What Happened Today, Monday August 24, 2026, 5:00 PM ET close
S&P 500 and Nasdaq Slip on Tech Weakness as Markets Watch Iran, Bitcoin Climbs 1.49%
Tech stocks dragged the Nasdaq lower while the S&P 500 held up better, as Iran related headlines and a fresh China tariff report kept traders cautious to start the week.
ES and NQ at the close
NQ, Nasdaq 100 futures
29,131.25
-0.87% on the day
Day range 28,946.75 to 29,480.50
ES, S&P 500 futures
7,674.25
-0.22% on the day
Day range 7,655.00 to 7,703.25
How did our Futures Trading Algo Do Today?
Trades
9
ES/NQ/RTY/BTC ยท live + forward-test
Result
-$389.12
net for the day
Discipline
The book stayed active but selective, going six winners against three losers as the BTC and RTY session setups carried the day while NQ mean reversion trades struggled against the choppy, headline driven tape.
MZ_BTC_asia_sess_5m was the standout, going 4 for 4 and adding $258.53, with MZ_BTC_london_sess_5m and MZ_RTY_asia_sess_5m chipping in smaller gains of $83.69 and $46.10. The NQ side had a rough day, with SH_OU_NQ_Asia_5m_b the worst performer at negative $312.44, alongside losses from SH_OU_NQ_Asia_5m_a and SH_OU_NQ_ASIA_SESS_5m_N120, leaving the book net negative $389.12 on 9 trades for the session.
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SPY and QQQ
The story
US stocks closed lower on Monday as investors weighed a string of Iran related headlines, including reports that Israel's Netanyahu said Iran tried to kill one of his sons and that Washington is threatening countries doing business with Iran without imposing penalties yet. The Nasdaq 100 led losses, down 0.87% to 29131.25, as tech stocks came under the most pressure. The S&P 500, tracked here by ES futures, held up better with a 0.22% decline to 7674.25. European stocks were largely flat as traders there watched the same Iran tensions and awaited fresh economic data.
The MAG7 and the megacaps
Tech stocks were the main source of weakness on Monday, and that pressure showed up most clearly in the Nasdaq 100's wider decline compared with the broader S&P 500. With Reuters citing tech names as the drag behind the S&P 500 and Nasdaq's move lower, the setup looked like a classic risk off day for growth heavy names, as traders trimmed exposure to the most rate and sentiment sensitive corners of the market while the Iran headlines circulated.
After the bell
Iran tensions stay front and center
Reuters reported that Israel's Netanyahu said Iran tried to kill one of his sons, while Washington threatened countries doing business with Iran but held off on formal penalties for now. Together these headlines kept geopolitical risk elevated and were cited as a reason for the pullback in stocks.
Trump approval holds at record low amid Iran war fatigue
A Reuters Ipsos poll found President Trump's approval rating holding at a record low, alongside falling US public support for the Iran conflict. Polling data like this can shape expectations for future policy moves, which markets watch closely during periods of active conflict.
China tariff report ahead of Xi Trump talks
Bloomberg News, as cited by Reuters, reported the US is eyeing 7.5% tariffs tied to China overcapacity ahead of upcoming talks between Trump and Xi. Trade policy headlines like this tend to add uncertainty for multinational and tech companies, which lined up with the tech led weakness in Monday's session.
Europe stays flat and watchful
European stocks were little changed on the day as investors there weighed the same Iran related tensions and awaited fresh economic data. A flat European tape alongside a weaker US tech sector suggests the pressure on Monday was more US and tech specific than a broad global risk off move.
Crypto
Bitcoin moved in the opposite direction from stocks on Monday, climbing 1.49% to close at 78916.04. The session ranged between a low of 76838.73 and a high of 79891.30, showing bitcoin held a firm bid even as equity traders turned cautious. That divergence is a reminder that crypto and traditional risk assets do not always move in lockstep, especially on days dominated by geopolitical headlines rather than economic data.
Into the night
Overnight and into the US session, the tone was set by geopolitics rather than economic data. Headlines on Iran, including Israel's Netanyahu accusing Iran of trying to kill one of his sons and Washington's warning to countries doing business with Iran, kept a cautious undertone across global markets. European stocks stayed close to flat as they weighed the same Iran related uncertainty while waiting on economic data of their own, and a Bloomberg report that the US is eyeing 7.5% tariffs on China overcapacity ahead of Trump and Xi talks added another layer of caution heading into the week.
What is coming next
NQ support
28946.75
Today's session low. A break under here would open the door to more selling in tech.
NQ resistance
29480.5
Today's session high. Bulls need to reclaim this area to flip the short term tone.
ES range
7655.00 to 7703.25
The S&P 500 held a tighter range than the Nasdaq, showing relative resilience outside of tech.
Macro watch
Iran headlines, China tariffs
Any escalation on Iran or confirmation of new China tariffs ahead of Trump and Xi talks could drive the next directional move.
With tech stocks leading Monday's decline and geopolitical headlines dominating the tape, traders will likely keep a close eye on any further developments out of Iran as well as confirmation or denial of the reported China tariff plans. A calmer news cycle could let the S&P 500's relative strength carry over into the Nasdaq, while further escalation on either front could extend the pullback in growth and tech names.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-08-24 session close; charts are live and interactive. Always verify before acting.