--- title: "Mid-Session: Tesla Plunges Nearly 13% Post-Earnings as Tech Sell-Off Broadens" type: "News" locale: "en" url: "https://longbridge.com/en/news/293633582.md" description: "Tesla tumbles ~13% after Q2 profit miss, Google slides ~7%, Amazon drops over 4%, Dow sheds 600+ points at session lows." datetime: "2026-07-23T14:24:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293633582.md) - [en](https://longbridge.com/en/news/293633582.md) - [zh-HK](https://longbridge.com/zh-HK/news/293633582.md) --- # Mid-Session: Tesla Plunges Nearly 13% Post-Earnings as Tech Sell-Off Broadens U.S. stocks traded sharply lower on July 23, with the Dow Jones Industrial Average briefly plunging more than **600 points** as the tech earnings season triggered a broad-based sell-off. As of writing, the S&P 500 was down roughly **1.5%**, the Nasdaq Composite fell about **2%**, and the Dow declined approximately **1.3%**. International oil prices surged above **$100 per barrel**, with escalating Middle East tensions fueling renewed inflation concerns. Tech heavyweights led the downturn across the board. Tesla (TSLA) paced the losses with a post-earnings plunge of nearly **13%**, while Google (GOOGL) and Amazon (AMZN) also weakened in tandem. The semiconductor sector was split: Micron (MU) and Super Micro Computer (SMCI) bucked the trend to trade higher, while STMicroelectronics (STM) cratered more than **15%**. On the upside, steel maker Cleveland Cliffs (CLF) surged over **18%**, standing out as a notable gainer. **Tesla Q2 Profit Miss Sends Shares Down Nearly 13%** As of writing, Tesla (TSLA) tumbled **12.84%** to **$325.99** on volume exceeding **34.59 million shares**. While second-quarter revenue of **$282.4 billion** topped expectations, operating profit, adjusted EPS, and gross margins all fell well short of estimates. Free cash flow turned negative, primarily driven by a sharp increase in capital expenditures. The company reiterated plans to ramp up investments in AI and related areas, flagging anticipated pressure on long-term profitability. Analyst Gene Munster noted that while Tesla's robotaxi ambitions remain bold, the current autonomous fleet remains relatively small in scale. **Tech Heavyweights Slide Broadly; Google Drops Nearly 7%** At the time of writing, Google (GOOGL) fell **6.91%** to **$318.47** on volume of more than **22.73 million shares**; Google Class C (GOOG) lost **7.12%** to **$317.58**; Amazon (AMZN) declined **4.30%** to **$234.33**; and Nvidia (NVDA) slipped **1.73%** to **$208.39**. On the news front, Google parent Alphabet reported Q2 revenue of **$119.8 billion** that beat expectations, yet Wall Street grew anxious over the company's massive AI capital expenditures and negative free cash flow. Mark Cuban defended Alphabet, likening the strategy to the aggressive investments seen during the 1998 internet boom. Separately, Amazon is scheduled to report earnings on July 30; the stock currently trades below its 50-day moving average, with analysts projecting EPS of **$1.82** on revenue of **$196.02 billion**. **Semiconductor Sector Diverges; STM Plunges Over 15%** As of writing, STMicroelectronics (STM) plummeted **15.52%** to **$55.56**; Micron Technology (MU) gained **3.50%** to **$993.05**; Super Micro Computer (SMCI) rose **3.91%** to **$31.76**; and Intel (INTC) edged up **0.95%** to **$103.59**. TSMC had previously reported strong Q2 results, with revenue climbing **34%** to **$40.2 billion** and raising its full-year guidance, as sustained AI infrastructure demand continued to lend support to the sector. **Steel Sector Surges; Cleveland Cliffs Jumps Over 18%** At the time of writing, Cleveland Cliffs (CLF) soared **18.47%** to **$11.20**. Elsewhere, Albertsons (ACI) tumbled **20.86%** to **$11.56**, while American Airlines (AAL) dropped **7.84%** to **$13.63**. In other markets, international oil prices breached **$100 per barrel** amid Middle East conflict fears, intensifying inflation worries, while gold prices fell more than **2%**. Market participants now turn their attention to the upcoming weekly U.S. jobless claims data and next week's Federal Reserve interest rate decision. ### Related Stocks - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [STM.US](https://longbridge.com/en/quote/STM.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) - [CLF.US](https://longbridge.com/en/quote/CLF.US.md) ## Related News & Research - [Elon Musk Just Revealed a Quiet Win for Tesla’s AI Ambitions](https://longbridge.com/en/news/293848955.md) - [STMicroelectronics Nosedives Following Q3 Revenue Guidance Miss. 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