Shares of banks and other financial institutions fell amid trepidation ahead of jobs data and Middle East developments.
Financial stocks fell amid jobs uncertainty and Iran fears; UWM suspended its dividend, pressuring mortgage lenders including Rocket Mortgage. For tech leaders, mortgage credit contraction signals tightened M&A lending and reduced venture appetite, directly impacting startup financing rounds and corporate acquisition runway.
Shares of banks and other financial institutions fell amid trepidation ahead of jobs data and Middle East developments.
Shares of UWM plunged after the wholesale mortgage lender suspended its dividend. Among other mortgage lenders, Rocket Mortgage fell in sympathy.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
August 06, 2026 17:56 ET (21:56 GMT)
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