Tesla, Alphabet lose hundreds of billions in value in post-earnings stock plunge
Alphabet and Tesla results revived worries about heavy AI spending, while Brent crude above $100 a barrel lifted inflation fears.
- On Thursday, July 23, 2026, Wall Street indexes closed lower as Tesla and Alphabet shares tumbled following disappointing earnings reports. The Nasdaq Composite sank more than 2 per cent, while the S&P 500 fell more than 1 per cent.
- Tesla shares tumbled 14.5 per cent after reporting negative free cash flow for the first time in more than two years, while Alphabet sank 7 per cent amid higher spending plans and cash burn.
- Industrials rose 1.77 per cent, boosted by Lockheed Martin and RTX, which rallied 10.5 per cent and 7.3 per cent respectively after raising 2026 forecasts. Texas Instruments fell 3 per cent despite forecasting quarterly revenue above estimates.
- Soaring oil prices amplified inflation worries, with Brent crude futures settling above US$100 a barrel for the first time since May. Intensifying Middle East hostilities, including US air strikes on Iran and Iranian fire at US bases, fanned global supply concerns.
- The CBOE Volatility Index rose to 20.3, its highest level in almost a month, while traders bet on a roughly 64 per cent probability the Federal Reserve will keep interest rates unchanged next week. US 10-year yields reached their highest levels since early 2025.
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Elon Musk lost about US$ 18.6 billion (R$ 94.86 billion) in assets on Thursday (23), after Tesla's actions collapsed 14.1% in the midst of the negative impact of the quarterly balance sheet of the assembler. The market responded to the results considered disappointing by analysts, who also claimed concrete advances in the company's robotics and robot projects, according to Forbes magazine.
AI bill catches up with Wall Street: Tesla crashes 14%, Alphabet falls 7%
Tesla and Alphabet shares fell sharply after earnings highlighted the rising cost of AI investment. The reaction signalled that Wall Street is demanding clearer returns, cash flow and profit visibility.
Wall Street falls as tech earnings spark AI spending worries
Latest earnings updates from large technology companies revived investor concerns about heavy AI spending. (EPA Images pic) NEW YORK: Wall Street indexes closed lower on Thursday with Nasdaq sinking more than 2% as the latest earnings updates from large technology companies revived concerns about heavy AI spending, while soaring oil prices amped up inflation worries, lifting bond yields.The S&P 500 fell more than 1% as losses were broad-based af…
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Wall St falls as tech earnings spark AI spending worries and oil hits $100
Wall Street indexes closed lower Thursday as large technology companies’ earnings updates revived concerns about heavy spending on artificial intelligence, while soaring oil prices amped up inflation worries.
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