03:39 PM EDT, 08/14/2026 (MT Newswires) -- (Updates with index/price moves and geopolitical news from the first paragraph.)

US equity indexes fell after retail sales posted the steepest drop since May 2025, and crude oil rose amid the Trump administration's plans to impose unprecedented economic pain on Iran.

The Nasdaq Composite fell 0.4% to 26,704.3, the S&P 500 slipped 0.2% to 7,785.4 and the Dow Jones Industrial Average declined 0.1% to 53,770.8 ahead of Friday's close.

Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg.

The probability of the Federal Reserve extending its policy pause to September jumped to 67% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed consumer and wholesale price inflation rates, both headline and core, declined year over year in July.

The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report.

"Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent was cited as saying in an interview with Newsmax on Thursday. The move will be part of a "one-two punch" that includes the continued blockade of Iran's ports, he added.

Crude oil futures rose, with the front-month US West Texas Intermediate contract climbing 1.4% to $82.36 per barrel and the global benchmark North Sea Brent jumping 1.7% to $88.54 per barrel.