Stock Market Today, July 8: Stocks Slide and Dow Drops 1. 5% as Middle East Tensions Spike | The Motley Fool
At midday, theS&P 500(^GSPC0. 45%)fell 0. 91% to 7,435. 81, theNasdaqComposite(^IXIC0. 18%)declined 0. 92% to 25,584. 75, and theDow JonesIndustrial Average(^DJI1. 18%)lost 1. 51% to 52,126. 81 as renewed. . .
At midday, theS&P 500(^GSPC0. 45%)fell 0. 91% to 7,435. 81, theNasdaqComposite(^IXIC0. 18%)declined 0. 92% to 25,584. 75, and theDow JonesIndustrial Average(^DJI1. 18%)lost 1. 51% to 52,126. 81 as renewed U. S. -Iran tensions triggered another oil spike and geopolitical anxiety. Gold prices fell 1. 87% to $4,030. 68, and the 10-Year Treasury yield rose 0. 06% to 4. 59% as of midday. Most sectors fell, with just theenergy sectorand consumer defensive stocks in the green. Today's biggest movesPenguin Solutions, Inc. surged following a significant earnings beat, whileExxon Mobil Corporationrallied as Middle East uncertainty drove crude prices higher. Meanwhile,Intel Corporationdropped over 5% as tech stocks faltered. Leading chipmakerMicron Technology,which has fallen almost 20% in the past five days, showed some signs of paring losses. Navitas Semiconductor Corporationshares tumbled over 9% after a competitor filed a patent infringement lawsuit. What this means for investorsGeopolitical tensions once again pressured equities this morning amid a reescalation of U. S. -Iran violence. The Dow dropped dramatically as global energy concerns overshadowed corporate news. Energy producers gained as oil prices soared — West Texas Intermediate crude jumped 7. 85% to almost $76 a barrel following fresh strikes in the Middle East. The cautious mood weighed on tech stocks as well, with increasing inflation concerns adding to risk-off sentiment. Artificial intelligencestocks have been struggling, andSamsung Electronics’earnings on Tuesday were not strong enough to reassure investors. Emma Newberyhas no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel, Micron Technology, and Penguin Solutions. The Motley Fool has adisclosure policy.