Suddenly bad news, Google plummets
On July 16, Eastern Time, the three major U.S. stock indexes collectively closed down. As of the close, the Dow fell 0.20% to 52552.97 points; the Nasdaq fell 1.47% to 25881.95 points; the S&P 500 fell 0.51% to 7533.77 points. Most large technology stocks weakened, with SpaceX falling more than 3%, and its closing price was lower than the IPO price for the first time. Google suddenly suffered bad news. The news that the release of Gemini 3.5 Pro flagship model was postponed caused market concerns. Google closed down more than 4% that day.
On July 16, Eastern Time, the three major U.S. stock indexes collectively closed down. As of the close, the Dow fell 0.20% to 52552.97 points; the Nasdaq fell 1.47% to 25881.95 points; the S&P 500 fell 0.51% to 7533.77 points. Most large technology stocks weakened, with SpaceX falling more than 3%, and its closing price was lower than the IPO price for the first time. Google suddenly suffered bad news. The news that the release of the Gemini 3.5 Pro flagship model was postponed caused market concerns. Google closed down more than 4% that day. Netflix's third-quarter profit forecast fell short of market expectations, and Netflix's stock price plummeted more than 8% in after-hours trading. The storage and semiconductor sectors continued to suffer heavy losses. SanDisk fell by more than 12%, Seagate Technology fell by 10%, Western Digital fell by more than 9%, and Intel, Arm, AMD, Broadcom, and Micron Technology fell by more than 5%. The Philadelphia Semiconductor Index fell 4.29% in a single day, and has fallen more than 16% since July. Chinese concept stocks went out of independent market, and the Nasdaq Golden Dragon China Index closed up 1.79%. The three major U.S. stock indexes closed down collectively On Thursday, July 16, Eastern Time, the three major U.S. stock indexes collectively closed down. As of the close, the Dow Jones Industrial Average fell 105.67 points, or 0.20%, to 52552.97 points; the Nasdaq fell 387.28 points, or 1.47%, to 25881.95 points; the S&P 500 Index fell 38.63 points, or 0.51%, to 7533.77 points. Most large technology stocks fell, with SpaceX falling more than 3% and closing at $131.11 per share. The closing price was lower than the IPO price for the first time. Meta fell 2.46%, Nvidia fell 2.40%, Amazon fell 1.99%, Tesla fell 0.86%, Apple rose 1.76%, and Microsoft rose 1.38%. Storage concept stocks fell sharply again, with SK Hynix falling 13.48%, SanDisk falling 12.6%, Seagate Technology falling 10%, and Western Digital falling 9.22%. Among optical communication concept stocks, Corning fell more than 9% and Lumentum fell 6.1%. The Philadelphia Semiconductor Index fell 4.29% in a single day, and has fallen more than 16% since July. Most popular Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index closing up 1.79%. Bilibili rose 3.94%, Xpeng Motors rose 1.89%, Weibo rose 1.42%, JD.com rose 1.37%, Baidu rose 1.20%, Pinduoduo rose 1.10%, Li Auto rose 1.02%, NetEase rose 0.44%, Alibaba closed down 0.17%, and Weilai fell 1.19%. After the U.S. stock market closed, video streaming giant Netflix announced its latest quarterly earnings report. Its second-quarter revenue and profit were basically in line with expectations, but third-quarter revenue and profit growth are expected to slow down. Affected by this, Netflix's stock price fell by more than 8% in after-hours trading. In terms of commodities, international oil prices fell on July 16. As of the close of the day, the continuous contract of WTI crude oil futures on the New York Mercantile Exchange fell by US$0.02 to close at US$79.58 per barrel, a decrease of 0.03%. International gold and silver prices fell. Spot gold fell by US$83.80, or 2.06%, to US$3,976.58 per ounce. Spot silver fell $2.25, or 3.89%, to $55.53 per ounce. Google Gemini model release rumors raise concerns Foreign media reported that the release of Google's most powerful flagship artificial intelligence model Gemini 3.5 Pro has been delayed several months from the original plan, causing market concerns about its AI competitiveness. Affected by this news, Google dived during the session, once falling 5%, and finally closed down 4.43%. According to Bloomberg citing people familiar with the matter, the Gemini 3.5 Pro delay is mainly due to Google’s desire to invest more time in improving the model’s capabilities, especially in terms of code programming capabilities. A person familiar with the matter revealed that at the end of last month, Google updated the data used to train Gemini in an attempt to improve its performance, but the results were disappointing.
According to reports, this less-than-expected progress has caused widespread dissatisfaction within Google. Many Google engineers, artificial intelligence researchers, and management are frustrated. Many people are worried that as competitors Anthropic and OpenAI launch models with performance exceeding Gemini, Google may face the risk of weakening its market position. A Google spokesperson said in a statement: "We are delivering models quickly while keeping them cost-effective for customers." Google is widely expected to release the 3.5 Pro at its developer conference in May. Google has also consulted with the U.S. government, which has been stepping up surveillance of AI companies' most advanced models, over the capabilities of its AI models and the safety standards that should apply to the industry. (
According to reports, this less-than-expected progress has caused widespread dissatisfaction within Google. Many Google engineers, artificial intelligence researchers, and management are frustrated. Many people are worried that as competitors Anthropic and OpenAI launch models with performance exceeding Gemini, Google may face the risk of weakening its market position. A Google spokesperson said in a statement: "We are delivering models quickly while keeping them cost-effective for customers." Google is widely expected to release the 3.5 Pro at its developer conference in May. Google has also consulted with the U.S. government, which has been stepping up surveillance of AI companies' most advanced models, over the capabilities of its AI models and the safety standards that should apply to the industry. (