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Informist, Friday, Jul. 17, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end lower as technology stocks take a beating

 

MUMBAI--0730 IST--Despite a better-than-expected inflation print, weakness in technology stocks dragged down the US indices. The technology-heavy NASDAQ Composite posted the steepest losses Thursday to fall nearly 1.5% while the S&P 500 and the Dow Jones Industrial Average also closed in the red. All the three major indices snapped their two-session winning pace. 

 

SanDisk Corp. tumbled almost 13% and shares of Micron Technology and Intel Corp. fell almost 6%, Advanced Micro Devices and Broadcom by around 5%, Qualcomm and Alphabet over 4%, and those of Nvidia and Meta by more than 2%. The PHLX Semiconductor Sector Index, which tracks 30 stocks involved in semiconductor manufacturing, closed over 4% lower and the S&P 500 Information Technology index was down nearly 2%. In the blue-chip Dow Jones, retail, healthcare and pharmaceutical stocks help limit losses.

 

On the macroecnomic front, the number of people applying for fresh unemployment benefits dropped by ‌8,000 to a seasonally 208,000 for the week ended Jul. 11. This is lower than Reuters' poll of an increase to 217,000. Meanwhile, continuing claims for the week ended Jul. 4 was 1.805 million, down by 16,000 from an upwardly revised total of 1.82 million a week earlier.

 

Following were the closing levels of major US indices Thursday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52552.97	(-)0.20
NASDAQ Composite	25881.946	(-)1.47
S&P 500	7533.77	(-)0.51

 

(Ruchira Kagita)

 

US$1 = INR 96.34

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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