S&P 500 down today while Bitcoin heads towards the $97 mark.

• Wall Street indexes fall after earnings reports and tensions.
• Trump escalates rhetoric against Iran and puts pressure on oil.
• US Supreme Court could define the future of tariffs.

American stock exchanges recorded a drop this Wednesday (14) of 2026, amid a series of factors that intensified investor caution. The Nasdaq fell 0,8%, the S&P 500 retreated almost 0,6% and the Dow Jones closed the trading session down approximately 0,2%, pressured mainly by the financial sector.

One of the main focuses of attention remains the growing tension in the Middle East. The current US president, Donald Trump, has hardened his rhetoric against Iran following the violently repressed protests in that country, indicating the possibility of a military response. Iran, in turn, has vowed to retaliate against any offensive. This geopolitical escalation has driven up oil prices, which have reached their highest level in two months, while the US has withdrawn some of its military personnel from bases in the region.

This climate of geopolitical uncertainty also influenced the performance of major American banks, whose quarterly results were closely watched. JPMorgan Chase disappointed at the start of earnings season, while Bank of America and Wells Fargo reported higher profits, driven by strong trading activity. Citigroup, meanwhile, surprised with an 84% jump in financial advisory revenue.

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On the macroeconomic front, producer price inflation data maintained its moderate bias, reinforcing the weak CPI reading released on Tuesday. This inflationary behavior supported expectations that the Federal Reserve will keep interest rates stable at its January meeting. At the same time, the report—delayed due to government shutdowns—showed that retail sales in November exceeded projections.

Stability in interest rates helped boost precious metals. Gold reached new highs and silver briefly surpassed the $90 mark, something unprecedented until then. The movement also reflects the growing political pressure on the Fed, driven by direct criticism of the institution by President Trump.

Finally, markets remain attentive to the possible release, later today, of the US Supreme Court's decision on a crucial case involving the presidential authority to impose trade tariffs. According to Trump, an unfavorable decision would jeopardize national security and, in his words, "WE ARE SCREWED!". The uncertainty surrounding this ruling adds further tension to an environment already strained by multiple risk factors.

Cryptocurrency markets today

The cryptocurrency market is trading higher this Wednesday, with major assets posting significant gains over the past 24 hours.

• Bitcoin (BTC) it is quoted at US$ 96.501,80 with high of 4%, approaching the psychological resistance level of US$97.
• Ethereum (ETH) continues with even stronger performance, trading at US$ 3.338,58, accumulating high of 6% in day.
• XRP also follows the positive movement, quoted close to US$ 2,15 with appreciation of 3%.
• BNB FaucetBinance's token is trading at US$ 941, reflecting high of 3,5% in the last 24 hours.
• Solana (SOL) maintains upward trajectory and records US$ 146 with daily gain of 2,5%.

The movement reflects global optimism amid expectations of unchanged interest rates in the US and the search for alternative assets amid political and geopolitical tensions.