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Informist, Friday, Jul. 24, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end down on AI spending worries, oil price surge

 

MUMBAI--0702 IST--Major US indices closed lower Thursday with the Nasdaq Composite falling more than 2?ter earnings of major technology companies raised concerns about heavy spending on artificial intelligence. Crude oil prices surged as the US and Iran continued air strikes and raised concerns over inflation. The Trump administration will impose new tariffs on 60 countries over alleged forced-labor violations.

 

The duties will be between 10.0% and 12.5% and will effectively replace the temporary 10% global tariffs, CNBC reported. These tariffs will apply to 60 trade partners and will cover over 99% of US trade. An estimate of the revenue which will be generated through these tariffs was not provided by the US Trade Representative, CNBC reported. 

 

The Dow Jones Industrial Average and the S&P 500 both fell around 1%. Sentiment was affected by the quarterly earnings of Tesla and Alphabet. Tesla fell nearly 15%, marking its worst day since March 2025. This was after it reported lower-than-expected earnings. Alphabet raised its full-year guidance for capital expenditure and the stock fell 7%. 

 

The chipmaker Intel rose 9?ter the company reported the largest quarterly revenue in nearly 15 years, CNBC reported. The company reported a top line of $16.1 billion for the second quarter, up 25% on year. American brewery Boston Beer rose 2% after the company reported slightly higher earnings for the second quarter which narrowly beat the Street's estimates. The company also reaffirmed its full-year earnings guidance of $8.50 to $10.50 per share, versus the consensus estimate of $9.38, as per the report.

 

On the positive side, Lockheed rallied almost 11?ter it raised its full year sales and profit forecast. RTX rose more than 7?ter it also raised its sales and profit forecasts for the full year.

 

Following were the closing levels of major US indices Thursday:

 

Index	Level	Change in %
Dow Jones Industrial Average	51711.65	(-)1.0
NASDAQ Composite	25137.69	(-)2.2
S&P 500	7408.3	(-)1.2

 

(Deesha Jadhav)

 

US$1 = INR 96.57

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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