Nasdaq plunges as oil surge chills markets

Today's Market

The Nasdaq index fell 1.4% on the 17th (local time) amid a sharp rise in oil prices. The S&P 500 also closed down 1.0%, and the volatility index (VIX) jumped 12.2%.

• US–Iran tensions lifted international crude (WTI) +4.5%, pressuring the tech-heavy Nasdaq

• VIX +12.2% jump sparked risk-off sentiment, S&P 500 down 1.0%

• Tesla and Alphabet earnings due July 22 (local time) could prompt additional near-term volatility

Market Data

S&P 500

7,457.69

▼1.01%

NASDAQ

25,520.24

▼1.40%

DOW

52,146.42

▼0.77%

VIX

18.77

▲12.19%

Sector Heat Map

SPY benchmark + 11 GICS sectors · 1-day

S&P 500 SPY −0.99%	Technology XLK −1.09%	Comm. Svcs XLC −1.78%	Cons. Discr. XLY −1.62%
Cons. Staples XLP −0.72%	Energy XLE +1.16%	Financials XLF −0.86%	Health Care XLV −0.44%
Industrials XLI −0.41%	Materials XLB −0.71%	Real Estate XLRE −0.09%	Utilities XLU −0.66%

In Focus

Netflix slides on slowing-growth worries

Not the results themselves but decelerating subscriber growth and thinner viewership data weighed on sentiment

• Fading growth momentum and reduced viewership disclosure drove one of the sharpest big-tech declines

• Compounded by the risk-off tape, the stock's own miss was amplified — weak from the premarket

• WATCH: Tesla and Alphabet earnings on the 22nd are the next test of big-tech expectations

AI leadership in focus as chips retreat

The chip sector fell 1.6% as TSMC spending worries dragged semiconductors broadly

• A global semiconductor sell-off widened, concentrating profit-taking in the AI-rally leaders

• The most-valuable-company race resurfaced — Apple closing in on Nvidia, Nvidia defending the top spot

• WATCH: signals on chip and AI capital spending are the first gauge of the next leg up

This Week

ALL TIMES EASTERN (ET)

• Wed 7/22 TSLA earnings | EPS est $0.54

• Wed 7/22 GOOGL earnings | EPS est $2.89

• Wed 7/22 GOOG earnings | EPS est $2.90

• Wed 7/22 NOW earnings | EPS est $0.86

• Thu 7/23 INTC earnings | EPS est $0.21

• Fri 7/24 New Home Sales

For informational purposes only. Not investment advice. All investment decisions are your own responsibility.

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