0723 | Stocks Drop as AI Doubts Hit Tech, Oil Tops $100, Yields Jump
Show notes
Wall Street had its worst day in a month as the Magnificent Seven shed $767 billion in value, driven by AI spending concerns after Alphabet and Tesla earnings. Brent crude surged past $100 a barrel following Houthi attacks on Saudi tankers in the Red Sea, deepening fears of a wider Middle East conflict. The oil spike rekindled inflation worries, pushing Treasury yields to their highest since early 2025 and fueling bets on a September Fed rate hike. Elsewhere, Eli Lilly plans a 2027 filing for it
Timeline
- 00:00:00 Opening
- 00:00:41 S&P 500 Sells Off as AI Spending Fears, Oil Surge, and Rate-Hike Bets Converge
- 00:01:55 Brent Crude Tops $100 as Houthi Attacks on Saudi Tankers Escalate Iran Conflict Risks
- 00:02:57 Big Tech Earnings: AI Spending Overshadows Alphabet and Tesla Results
- 00:03:58 Fed Rate-Hike Odds Surge as Oil Reignites Inflation Fears; Treasury Yields Hit 2026 Highs
- 00:04:40 Eli Lilly Advances Next-Gen Obesity Drug; Albertsons, American Airlines, and Comcast Report
Related links
- As the S&P 500 sells off, traders eye key 'risk pivot' level - US Top News and Analysis
- Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks - Bloomberg Markets
- S&P 500 Heads Toward Worst Day in a Month as Oil Soars Over $100 - Bloomberg Markets
- Tesla falls 14%, Alphabet sinks 6% as AI spending concerns spook investors - US Top News and Analysis
- Brent crude crosses $100 after tankers reportedly struck off Saudi Arabia - US Top News and Analysis
- Brent Crude Hits $100 a Barrel on Red Sea, Iran Supply Threats - Bloomberg Markets
- Brent crude tops $100 a barrel. How the next stop could be $120 - US Top News and Analysis
- Trump says U.S. will hold Iran responsible for Houthi attacks after oil tankers targeted in Red Sea - US Top News and Analysis
- Alphabet and Tesla test Wall Street's patience as AI spending overshadows growth - US Top News and Analysis
- Google Cloud CEO Kurian says customers are spending 50% more as segment blows away expectations - US Top News and Analysis
- Intel stock is down 27% from June record highs. How the chipmaker can reverse the slide - US Top News and Analysis
- Intel blows past estimates, recording fastest sales growth in almost 15 years on 'unprecedented' demand - US Top News and Analysis
- Odds of Federal Reserve rate hike surge as oil prices rip higher - US Top News and Analysis
- 10-year Treasury yield rises to highest since January 2025 as surging oil rekindles inflation fear - US Top News and Analysis
- US Treasury Yields Rise to 2026 Highs With Oil Sparking Fed Bets - Bloomberg Markets
- Traders see September rate hike as European Central Bank mulls energy price spike - US Top News and Analysis
- Eli Lilly says it will file for approval of next-generation obesity drug in 2027 as it clears two more trials - US Top News and Analysis
- Albertsons stock plunges as it says weaker grocery spending will cut into sales and earnings - US Top News and Analysis
- American Airlines stock tumbles 7% as fuel spike further postpones turnaround - US Top News and Analysis
- Comcast earnings highlight NBCUniversal strength ahead of planned split - US Top News and Analysis
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