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Global Stock Market Today: Wall Street ended Thursday's (July 24) session on a weaker note as rising oil prices, driven by escalating US-Iran tensions, weighed on investor sentiment.
The Dow Jones Industrial Average lost 506.93 points, or 0.97 per cent, to close at 51,711.65. The S&P 500 dropped 1.21 per cent to 7,408.30, while the Nasdaq Composite declined 2.15 per cent to end at 25,137.69.
Oil prices surge amid escalating geopolitical tensions
Brent crude futures rose more than 7 per cent in the previous session, climbing above the USD 101-per-barrel mark. Meanwhile, WTI crude futures were trading above USD 92 per barrel.
On the geopolitical front, US President Donald Trump said he is considering a "massive attack" on Iran, "bigger than ever before," adding that he is close to making a decision.
Tesla, Alphabet lead tech sell-off
Among the biggest losers on the tech-heavy Nasdaq, Tesla plunged more than 14 per cent, marking its worst intraday decline in over a year. The sharp fall came after the electric vehicle maker reported second-quarter profit that missed expectations, reigniting concerns over its artificial intelligence and robotics ambitions.
Alphabet, Google's parent company, also declined around 7 per cent after announcing that it would increase its capital expenditure in 2026 and expects spending to rise significantly further in 2027.
Other major technology stocks, including Amazon, Meta, Microsoft, Nvidia, and Apple, also ended the session in the red.
Asian markets track Wall Street losses
The negative sentiment in the US market spilled over to Asian equities, with Japan's Nikkei 225 and South Korea's KOSPI trading sharply lower.
- Japan's Nikkei 225 was down 1.8 per cent, or 1,203.10 points.
- Meanwhile, South Korea's KOSPI slipped more than 2 per cent to 6,942.62.
- Hong Kong's Hang Seng was not trading at the time of writing. However, the index had settled 1.3 per cent higher at 25,210.81 in the previous session.
Gift Nifty signals weak opening for Indian markets
Following the weak trend across global markets, Indian equities are also expected to extend their decline in Friday's session. Gift Nifty was trading 0.8 per cent, or 195 points, lower at 23,668. (Gift Nifty Today)
Gift Nifty is widely regarded as a leading indicator for the Nifty 50's opening, as its overnight trading often signals the expected direction of the Indian market at the opening bell.
Indian markets on July 23
The Indian stock market extended losses for the fourth consecutive session on Thursday, with benchmark indices Sensex and Nifty ending lower as oil prices surged after the US military completed its 12th consecutive night of strikes on Iran.
The 30-share BSE Sensex declined 363.66 points, or 0.47 per cent, to settle at 76,391.39, dragged down by heavyweight stocks such as Reliance Industries, HDFC Bank, Bharti Airtel, and Bajaj Finance.
The 50-share NSE Nifty fell 126.65 points, or 0.53 per cent, to close at a three-week low of 23,869.60, with realty, energy, and banking stocks emerging as the biggest drags.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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