---
title: "Why Is the Stock Market Down Today, 7/23/26?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293632422.md"
description: "US stock markets declined on July 23, 2026, driven by Middle East tensions pushing oil above $100 and fueling inflation fears. The S&P 500 and Nasdaq 100 fell as geopolitical risks disrupted energy supplies. Additionally, tech giants faced pressure: Tesla dropped over 10% after weak earnings, while Alphabet slid due to concerns over excessive AI capital expenditure guidance."
datetime: "2026-07-23T14:00:46.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293632422.md)
  - [en](https://longbridge.com/en/news/293632422.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293632422.md)
---

# Why Is the Stock Market Down Today, 7/23/26?

Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading lower on Thursday as higher tensions in the Middle East drive both energy prices and inflation fears higher.

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Brent crude (BZ), the global oil benchmark, is back above $100 per barrel for the first time since late May. That came after the Houthi military group said it struck two Saudi tankers approaching the Bab al-Mandeb Strait. Around 12% of global seaborne oil flows through the waterway. The attack creates another potential disruption point for global energy markets.

## **U.S.-Iran Tensions and AI Spending Concerns Grow**

Meanwhile, traffic through the Strait of Hormuz remains severely restricted. Shipowners have continued to avoid the strait for fear of being targeted by Iran.

Elsewhere, the Magnificent 7 is pulling the market lower. Tesla (TSLA) is down by over 10% after its second-quarter earnings failed to resonate with investors. In addition, Alphabet (GOOGL) is facing pressure after it boosted its 2026 capex guidance to $195-$200 billion, up from $180-$190 billion. That's heightened concerns that tech giants are investing too much in the AI buildout without a clear path to strong returns.

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## Related News & Research

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