Stock Market News Today, 7/17/26 – Futures Tumble as U.S.-Iran Tensions and Tech Selloff Rattle Markets
Complete. Here is the key summaryU.S. stock futures fell sharply on July 17, 2026, driven by escalating military tensions between the U.S. and Iran and a renewed tech selloff linked to AI spending concerns. Nasdaq, S&P 500, and Dow futures dropped 1.86%, 0.90%, and 0.66% respectively. Oil prices rose as conflict intensified, while global markets in Asia and Europe also declined significantly.
U.S. stock futures fell sharply ahead of Friday's session as escalating military tensions between the U.S. and Iran and renewed weakness in technology stocks weighed on investor sentiment. Investors also assessed a fresh batch of earnings reports, including Netflix's (NFLX) mixed second-quarter results released after-market yesterday.
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Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 1.86%, 0.90%, and 0.66%, respectively, at 5:36 p.m. EDT on July 17.
Oil prices remained elevated as investors monitored the conflict between the U.S. and Iran. The U.S. Central Command said it carried out strikes on Iran for a sixth consecutive night, targeting dozens of military sites, including logistics facilities and maritime equipment. Iran warned that it could attack regional infrastructure if the U.S. carried out further strikes on key facilities in the country.
At the time of writing, Brent crude (CM:BZ) was up 0.78% at $85.45 a barrel, while WTI crude (CM:CL) rose 0.96% to $80.25 a barrel.
During Thursday's regular trading, major U.S. indices fell, snapping a two-day winning streak as renewed concerns over AI spending triggered another selloff in chip stocks. The Nasdaq, the S&P 500, and the Dow declined 1.47%, 0.51%, and 0.20%, respectively. Memory-chip stocks led the selloff, with SK Hynix (SKHY) plunging nearly 14%.
The benchmark U.S. 10-year Treasury yield stood at 4.53% as of the last check. Additionally, the spot gold price in U.S. dollars traded around $3,999.75 per ounce on Friday.
On the economic front, investors will watch reports on housing starts, building permits, industrial production, and Michigan consumer sentiment estimates.
There are no important earnings releases scheduled for today.
Elsewhere, European markets traded lower as the global technology selloff weighed on chipmakers such as ASML (ASML) and STMicroelectronics (STM).
Asia-Pacific Markets Close Lower
Asia-Pacific markets ended lower, with technology stocks recording steep losses after tracking Wall Street's AI-driven selloff.
Hong Kong's Hang Seng Index fell 1.78%. In China, the Shanghai Composite declined 3.05%, while the Shenzhen Component lost 4.46%. In Japan, the Nikkei plunged 4.03% and the Topix slipped 2.72%.