The Dow fell 0.6%, or 326 points. The Nasdaq was down 1.3%, while the S&P 500 was off 1%. The PHLX Semiconductor Index was down 1.4%, after falling 5.7% earlier in the session—and briefly climbing into positive territory.
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Moonshot AI's 2.8-trillion-parameter open-weight model sent chip stocks tumbling and gave Wall Street a Friday it would rather forget.
The PHLX Semiconductor Index has clawed its way back to the flatline, escaping a technical bear market. The index, which uses the ticker SOX, was up 0.5%, with memory chip stocks leading charge. With the chip selling easing, the Nasdaq and the S&P 500 pared their losses somewhat, with the indexes down 0.8% and 0.5%, respectively.
AI stocks have come under heavy selling pressure in the stock market, but biotechs are still catching a bid among institutional investors.
The tech selloff has spread beyond semiconductor stocks to many of this year’s biggest listings, even as some Wall Street analysts argue the pullback is a healthy reset rather than the end of the AI boom.
AI spending fears rattled chip stocks all week long. Meanwhile, an insurance company quietly saved the Dow from a worse fate.
Investing now could prove to be lucrative over time.
Invesco's QQA ETF bolts a covered-call overlay onto a cash cushion and promises monthly income from the Nasdaq-100, but whether that cushion actually softens the blow or just quietly drains your upside is a trade-off worth understanding before you buy.
The FTSE 100 Index closed up 28.13 points at 10,600.37.
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equit
This analyst thinks Meta stock is worth $720 a share -- and he may be right.
The bull market is still alive.
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The Dow opened down 1%, or more than 500 points, but within the first hour of the trading day the blue-chip index clawed its way back to the flatline. Travelers Companies was the Dow's best performing component, up 8.
Investors continue booking profits on the AI trade, especially overseas, on concerns over high capex spending.
Tokyo and Taipei stock markets led a fresh selloff for technology shares Friday, as concerns that the sector had been overbought in recent months intensified."The technology selloff is not the only reason markets are in a sour mood," noted Ipek Ozkardeskaya, senior analyst at Swissquote bank.
The Nasdaq sunk 1.5%, while the S&P fell 1.2%. The Dow dropped 1%, or 547 points. "We end the week with risk-on morphing into risk-off as the selloff in global chipmakers intensifies and investor sentiment is hit by yet another day of attacks and counterattacks in the Middle East," Dave Rosenberg at Rosenberg Research said.
The biggest problems aren’t caused by what you don’t know, but what, as Mark Twain put it, “you know for sure that just ain’t so.” It’s there in the major indexes, where S&P 500 futures were down 0.9% in early Friday trading, while Nasdaq Composite futures were off 1.9%, and nearing correction territory. Chip stocks were supposed toe be unstoppable, driven by shortages and insatiable demand for artificial intelligence.
Stock Market Today: The Dow Jones index dropped Friday as Netflix stock plunged on earnings. SpaceX shares sold off on a canceled test flight.
News of the Day for July 17, 2026
8am: Wall Street futures lower as tech rout spreads Wall Street looked set for a sharply weaker open on Friday as a global sell-off in semiconductor stocks gathered pace, with disappointing corporate earnings adding to the risk-off mood. Futures pointed to the Nasdaq opening around 1.5%...
Overseas stocks and US stock futures fell sharply Friday after technological advances announced by a Chinese artificial intelligence company intensified concerns that the AI spending spree driving this year’s market rally could be at risk.