U.S. Stocks Plunge on July 23 as AI Doubts and Iran Tensions Hit Simultaneously; S&P 500 Falls 1.2%

TSLA-1.17%
According to Business Insider, the S&P 500 fell 1.2% and the Nasdaq 100 plunged nearly 2% on July 23, while the "Magnificent Seven" tech stocks tumbled 4%, as two major market drivers shifted simultaneously. Rising Iran-U.S. tensions pushed crude oil past $100 per barrel, reigniting inflation concerns and prompting markets to increase bets on Federal Reserve rate hikes. Concurrently, Alphabet and Tesla's earnings reports exposed weakening investor patience with massive AI capital expenditures—Alphabet dropped 7% despite strong profits after raising capex guidance, while Tesla fell 15% as spending rose and earnings disappointed. According to Axios, Trump ordered the U.S. military to halt strikes on Iran on Friday, July 24, halting roughly two weeks of daily airstrikes.
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Sultan09vip
· 11h ago
2026 GOGOGO 👊
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