Tesla, Alphabet lose hundreds of billions in value in post-earnings stock plunge
Tesla and Alphabet fell after quarterly results raised spending concerns, while a 3% jump in Brent crude deepened inflation worries, analysts said.
- Shares of Alphabet Inc. and Tesla plummeted on July 23, 2026, following second-quarter earnings reports revealing negative free cash flow and surging capital expenditures, erasing roughly $300 billion and $200 billion in market value respectively.
- Alphabet raised its 2026 capex forecast to between $195 billion and $205 billion to accelerate capacity delivery, while Tesla's capital spending surged 142% year-on-year to $5.79 billion, driven by robotics and artificial intelligence initiatives.
- Cross-Asset analyst Nic Puckrin told Business Insider, "Tech giants are spending on AI like there's no tomorrow, but investors have realized it's tomorrow they care about," capturing investor anxiety over cash burn.
- On July 23, 2026, major U.S. indexes fell as technology shares declined, yet industrials rallied with RTX and Lockheed Martin gaining 7.3% and 10.5% respectively, lifting the sector 1.77%.
- Investors now focus on upcoming results from Microsoft and Meta Platforms alongside the Federal Reserve's policy decision next week, as analysts assess whether the sell-off signals isolated weakness or a broader market correction.
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159 Articles
Evening Standard
FTSE 100 sets new record ahead of US rate call
The FTSE 100 was lifted by well-received earnings and gains in BP and Shell as the oil price strengthened.
The FTSE 100 index is driven by the good performance of its companies and a relatively low exposure to technological values in the midst of turbulence around the globe.
Ftse 100 skyrockets to ALL-TIME HIGH before retreating amid AI stock sell-off
The Ftse 100 skyrocketed to an all-time high when trading began this morning, before retreating slightly amid an artificial intelligence (AI) stock sell-off.London's benchmark stock market index surged to an unprecedented 10,951 points, gaining as much as 0.7 per cent before retreating to trade flat later in the session.The milestone surpassed the Footsie's prior record of 10,934, which was set at the end of February, marking a full recovery fro…
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