US stocks tumble Thursday as oil jumps and Alphabet and Tesla slide; Nasdaq falls 2.1%

Wall Street's main indexes closed lower on Thursday, 23 July 2026, pressured by surging oil prices and a slide in two technology giants. The Nasdaq Composite fell 2.15% to about 25,137, the S&P 500 dropped 1.21% to around 7,408, and the Dow Jones Industrial Average lost about 507 points, or 0.97%, to roughly 51,711.

The weight came from Tesla and Alphabet, which fell about 14.5% and 7.1% respectively after their earnings reports; Tesla shed roughly $200 billion and Alphabet about $300 billion in market value in a single day. Concerns over heavy artificial-intelligence spending, together with US crude oil climbing above $92 a barrel, deepened the risk-off mood across global markets.