U.S. Stocks Open Lower as Tech Selloff Deepens on AI Spending Fears, Middle East Tensions
2026-07-23 14:22:30
U.S. equities opened sharply lower on July 23, 2026, as concern over AI investment spending after earnings from major tech companies and escalating tensions in the Middle East weighed on sentiment, according to Jiemian News. The Dow Jones Industrial Average fell 1.1% at the open, the Nasdaq Composite dropped 1.75%, and the S&P 500 declined 1.16%. Among the so-called Magnificent Seven, Tesla fell more than 8%, Alphabet dropped more than 6%, Amazon lost more than 3%, Meta declined more than 2%, and Nvidia was down 1.1%. Chip stocks also weakened, with SanDisk and Qualcomm both falling more than 2%.
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