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Informist, Monday, Jul. 20, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US mkt closes down on AI sell-off despite good earnings season

 

MUMBAI--0700 IST--Major US indices closed lower Friday as the risk-off sentiment grew and took chips stocks down despite good corporate earnings for the second quarter so far. The West Asia war escalated as the US military began its ninth consecutive night of strikes against Iran on Sunday. 

 

The Dow Jones Industrial Average lost almost 1% and the S&P 500 also fell 1%. The Nasdaq Composite lost 1.4% as index heavyweights Nvidia and Alphabet Inc. closed 4.6% and 7.7% lower respectively. Shares of Netflix fell more than 7?ter the company's earnings forecast for the June quater weighed on investor sentiment. 

 

So far, 49 of the S&P 500 companies have reported their earnings. Of these, 90% have delivered better-than-expected results, according to LSEG data. Analysts now see year-on-year S&P 500 aggregate earnings growth of 26.0%, up from the 19.2% expected in April. 

 

The VanEck Semiconductor ETF dropped almost 9%. The semiconductors segment was hit hard after the Chinese startup Moonshot AI unveiled a new model which will narrow the gap with the top offerings in the US. The Philadelphia SE Semiconductor Index is now down over 18% in July but is still up 65% year-to-date as compared to the S&P 500's nearly 9% gain over the same time.

 

Following are the closing levels of major US indices on Friday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52146.42	(-)0.77
NASDAQ Composite	25520.24	(-)1.4
S&P 500	7457.69	(-)1

 

(Deesha Jadhav)

 

US$1 = INR 96.28 

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

 

Edited by Pankaj Aher

 

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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