Damian Troise and Alex Veiga

October 26, 2026 — 5:20am

Stocks on Wall Street closed broadly lower as oil prices climbed to their highest level in more than four years, ratcheting up pressure on the market.

The S&P 500 fell 0.5 per cent, adding to its decline from a day before. The index posted its second-straight weekly loss. The Dow Jones Industrial Average fell 1.2 per cent, and the Nasdaq composite slipped 0.2 per cent after giving up a modest gain.

Wall Street lost ground on Friday as oil prices hit their highest mark in four years. Bloomberg

The Australian sharemarket is set to fall, with futures on Saturday pointing to a fall of 43 points, or 0.5 per cent, at the open. The Australian dollar was trading at US70.26¢.

Rising oil prices weighed heavily on the market, where nearly three out of every four stocks within the benchmark S&P 500 index fell. The price for a barrel of Brent crude oil rose 3.1 per cent to settle at $US116.72.…