Dow Falls 0.7%, Tariff Threats Ease, DXP and Others Suffer Volatility

The Dow Jones Industrial Average fell as much as 0.7% in afternoon trading on January 23, 2026, amid lingering market uncertainty. The decline capped a volatile week for stocks, which had previously seen relief as President Donald Trump backed off his threat of new tariffs on European allies, easing global trade tensions. DXP shares experienced significant volatility, with today’s move reflecting the market's reaction to recent geopolitical developments. The stock, up 19.4% year-to-date, traded near its 52-week high of $132.09 at $128.58 per share. Other impacted stocks included SPX Technologies, Oshkosh, Belden, and Enpro, which also saw price fluctuations tied to broader market sentiment. The S&P 500 gained 1.2% as investor concerns over trade tensions eased following the reversal of tariff plans linked to Greenland. While this recovery brought renewed optimism, analysts cautioned that underlying geopolitical risks and market volatility remain challenges for investors. Despite the downturn, some viewed the sharp price drops as potential buying opportunities for high-quality stocks.