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The three major U.S. stock indexes are facing another adjustment: technology stocks all fell, and Tesla fell more than 14%

2026-07-24·newswire-us-stock-014114
The three major U.S. stock indexes are facing another adjustment: technology stocks all fell, and Tesla fell more than 14%.

All three major U.S. stock indexes closed lower on Thursday. Wind data shows that as of the close on July 23, local time, the Dow fell 0.97% to 51,711.65 points, the S&P 500 fell 1.21% to 7,408.3 points, and the Nasdaq fell 2.15% to 25,137.69 points.

Among them, the large-capitalization technology stock sector, represented by the seven technology giants, suffered its worst single-day performance since April 2025. The index price fell below all major moving averages, and the total market value evaporated by approximately US$800 billion.

Wind data shows that on July 23, local time, the Wind Seven US Technology Giants Index fell 3.86%. Although Google's second-quarter financial report saw net profit significantly exceed expectations, the company announced a further increase in capital expenditure plans, and its free cash flow turned negative for the first time in its history.

The stock price immediately fell sharply, driving the communications services sector down. Tatiana Darie, a macro strategist at Bloomberg, said that Alphabet’s latest round of capital expenditure increases, combined with huge future expenditure commitments, have made investors panic.

This is especially true as other tech giants report earnings next week and face similar risks of negative investor reaction. Miller Tabak's Matt Maley said it's still early days and we'll see more earnings reports from hyperscale cloud computing players next week.

Although it cannot be said that it faces the same negative reaction as chip stocks, this trend does raise more concerns about "selling on the news." In terms of individual stocks, Tesla fell by more than 14%, Google fell by nearly 7%, Amazon fell by more than 4%, Facebook fell by more than 3%, Microsoft fell by more than 2%, and Nvidia and Apple fell by more than 1%.

Despite strong electric vehicle delivery data, Tesla's second-quarter profit fell and free cash flow turned negative for the first time in two years, causing Tesla's stock price to also suffer.

In other sectors, most energy stocks rose, with Exxon Mobil and ConocoPhillips rising by more than 1%, Chevron rising by 0.74%, and Occidental Petroleum rising by 0.19%. Schlumberger fell more than 1%.

Most bank stocks fell, with Goldman Sachs falling more than 2%, Morgan Stanley falling more than 1%, Bank of America falling 0.51%, Citigroup falling 0.27%, and Wells Fargo falling 0.24%. JPMorgan Chase rose 0.45%.

Most airline stocks also fell, with American Airlines falling more than 8%, Southwest Airlines falling more than 6%, and Delta Air Lines and United Airlines falling more than 1%. Boeing rose 0.27%. Chip stocks were mixed, with the Philadelphia Semiconductor Index falling 0.54%.

Among them, Texas Instruments fell by more than 3%, Qualcomm fell by more than 2%, Intel fell by more than 2%, and AMD Semiconductor fell by more than 2%. In terms of gains, Micron Technology rose by more than 3%, Ketian Semiconductor rose by more than 1%, and Applied Materials rose by more than 1%.

Most Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 0.57% and the Wind China Concept Technology Leading Index falling 0.59%. In terms of popular Chinese concept stocks, Alibaba fell more than 2% and Vipshop fell nearly 2%.

In terms of growth, Pony.ai rose by more than 7%, Li Auto rose by more than 2%, Bawangchaji rose by 2%, and New Oriental rose by more than 1%. On July 23, local time, Intel closed down 2.33%, with a total market value of US$503.5 billion. Affected by the after-hours news, Intel's stock price rose by more than 13% after the market closed. After the U.S.

stock market closed, Intel's second-quarter earnings report significantly exceeded market expectations.

The financial report showed that Intel’s second-quarter revenue was US$16.1 billion, a year-on-year increase of 25%, significantly higher than market expectations of US$14.42 billion; adjusted earnings per share was US$0.42, also exceeding market expectations. In the European market, the three major European stock indexes also closed down across the board.

Among them, the German DAX index fell 1.56% to 24763.12 points; the French CAC40 index fell 1.64% to 8299.09 points; the British FTSE 100 index fell 0.73% to 10639.17 points. In the crude oil market, rising tensions in the Middle East pushed up oil prices.

As of the close of the day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange rose by $5.36 to close at $92.19 per barrel, an increase of 6.17%; the price of London Brent crude oil futures for September delivery rose by $6.62 to close at $100.69 per barrel, an increase of 7.04%.

According to a report by Xinhua News Agency on July 23, the U.S. Central Command announced on social media on the 23rd that the U.S. military began a new round of strikes against Iranian military targets at 18:45 Eastern Time on the same day (6:45 Beijing time on the 24th). This was the 13th consecutive night that the U.S.

military launched strikes against Iran. According to Xinhua News Agency's report on July 24, Iran's Fars News Agency quoted Iranian military news on the evening of the 23rd as saying that a US military "Tomahawk" cruise missile was intercepted by the air defense system over the Kakhnuj area of Southeast Kerman Province in Iran that day.

The president of Rapidan Energy Group said that the scope of the second round of military conflict will be greater than the first. The risks are huge, not just for the shipping industry but also for energy infrastructure.

The surge in oil prices has heightened concerns about inflation and raised expectations that the Federal Reserve will raise interest rates. Gold fell sharply amid a strong U.S. dollar. In terms of futures, COMEX gold closed at $4,052.3 per ounce, down 2.40%. COMEX silver closed at $57.895 per ounce, down 3.99%.

Sameer Samana of Wells Fargo Investment Research said that escalating tensions in the Middle East have pushed up crude oil prices, raising concerns that inflation may reaccelerate, delaying interest rate cuts, and may even force the Federal Reserve to raise interest rates.

#Stocks #Nvidia #Tesla #EVs #Apple #AMD

Full text

The three major U.S. stock indexes are facing another adjustment: technology stocks all fell, and Tesla fell more than 14%

All three major U.S. stock indexes closed lower on Thursday. Wind data shows that as of the close on July 23, local time, the Dow fell 0.97% to 51,711.65 points, the S&P 500 fell 1.21% to 7,408.3 points, and the Nasdaq fell 2.15% to 25,137.69 points. Among them, the large-capitalization technology stock sector, represented by the seven technology giants, suffered its worst single-day performance since April 2025. The index price fell below all major moving averages, and the total market value evaporated by approximately US$800 billion.

All three major U.S. stock indexes closed lower on Thursday. Wind data shows that as of the close on July 23, local time, the Dow fell 0.97% to 51,711.65 points, the S&P 500 fell 1.21% to 7,408.3 points, and the Nasdaq fell 2.15% to 25,137.69 points. Among them, the large-capitalization technology stock sector, represented by the seven technology giants, suffered its worst single-day performance since April 2025. The index price fell below all major moving averages, and the total market value evaporated by approximately US$800 billion. Wind data shows that on July 23, local time, the Wind Seven US Technology Giants Index fell 3.86%. Although Google's second-quarter financial report saw net profit significantly exceed expectations, the company announced a further increase in capital expenditure plans, and its free cash flow turned negative for the first time in its history. The stock price immediately fell sharply, driving the communications services sector down. Tatiana Darie, a macro strategist at Bloomberg, said that Alphabet’s latest round of capital expenditure increases, combined with huge future expenditure commitments, have made investors panic. This is especially true as other tech giants report earnings next week and face similar risks of negative investor reaction. Miller Tabak's Matt Maley said it's still early days and we'll see more earnings reports from hyperscale cloud computing players next week. Although it cannot be said that it faces the same negative reaction as chip stocks, this trend does raise more concerns about "selling on the news." In terms of individual stocks, Tesla fell by more than 14%, Google fell by nearly 7%, Amazon fell by more than 4%, Facebook fell by more than 3%, Microsoft fell by more than 2%, and Nvidia and Apple fell by more than 1%. Despite strong electric vehicle delivery data, Tesla's second-quarter profit fell and free cash flow turned negative for the first time in two years, causing Tesla's stock price to also suffer. In other sectors, most energy stocks rose, with Exxon Mobil and ConocoPhillips rising by more than 1%, Chevron rising by 0.74%, and Occidental Petroleum rising by 0.19%. Schlumberger fell more than 1%. Most bank stocks fell, with Goldman Sachs falling more than 2%, Morgan Stanley falling more than 1%, Bank of America falling 0.51%, Citigroup falling 0.27%, and Wells Fargo falling 0.24%. JPMorgan Chase rose 0.45%. Most airline stocks also fell, with American Airlines falling more than 8%, Southwest Airlines falling more than 6%, and Delta Air Lines and United Airlines falling more than 1%. Boeing rose 0.27%. Chip stocks were mixed, with the Philadelphia Semiconductor Index falling 0.54%. Among them, Texas Instruments fell by more than 3%, Qualcomm fell by more than 2%, Intel fell by more than 2%, and AMD Semiconductor fell by more than 2%. In terms of gains, Micron Technology rose by more than 3%, Ketian Semiconductor rose by more than 1%, and Applied Materials rose by more than 1%. Most Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 0.57% and the Wind China Concept Technology Leading Index falling 0.59%. In terms of popular Chinese concept stocks, Alibaba fell more than 2% and Vipshop fell nearly 2%. In terms of growth, Pony.ai rose by more than 7%, Li Auto rose by more than 2%, Bawangchaji rose by 2%, and New Oriental rose by more than 1%. On July 23, local time, Intel closed down 2.33%, with a total market value of US$503.5 billion. Affected by the after-hours news, Intel's stock price rose by more than 13% after the market closed. After the U.S. stock market closed, Intel's second-quarter earnings report significantly exceeded market expectations. The financial report showed that Intel’s second-quarter revenue was US$16.1 billion, a year-on-year increase of 25%, significantly higher than market expectations of US$14.42 billion; adjusted earnings per share was US$0.42, also exceeding market expectations. In the European market, the three major European stock indexes also closed down across the board. Among them, the German DAX index fell 1.56% to 24763.12 points; the French CAC40 index fell 1.64% to 8299.09 points; the British FTSE 100 index fell 0.73% to 10639.17 points. In the crude oil market, rising tensions in the Middle East pushed up oil prices. As of the close of the day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange rose by $5.36 to close at $92.19 per barrel, an increase of 6.17%; the price of London Brent crude oil futures for September delivery rose by $6.62 to close at $100.69 per barrel, an increase of 7.04%.

According to a report by Xinhua News Agency on July 23, the U.S. Central Command announced on social media on the 23rd that the U.S. military began a new round of strikes against Iranian military targets at 18:45 Eastern Time on the same day (6:45 Beijing time on the 24th). This was the 13th consecutive night that the U.S. military launched strikes against Iran. According to Xinhua News Agency's report on July 24, Iran's Fars News Agency quoted Iranian military news on the evening of the 23rd as saying that a US military "Tomahawk" cruise missile was intercepted by the air defense system over the Kakhnuj area of Southeast Kerman Province in Iran that day. The president of Rapidan Energy Group said that the scope of the second round of military conflict will be greater than the first. The risks are huge, not just for the shipping industry but also for energy infrastructure. The surge in oil prices has heightened concerns about inflation and raised expectations that the Federal Reserve will raise interest rates. Gold fell sharply amid a strong U.S. dollar. In terms of futures, COMEX gold closed at $4,052.3 per ounce, down 2.40%. COMEX silver closed at $57.895 per ounce, down 3.99%. Sameer Samana of Wells Fargo Investment Research said that escalating tensions in the Middle East have pushed up crude oil prices, raising concerns that inflation may reaccelerate, delaying interest rate cuts, and may even force the Federal Reserve to raise interest rates.

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