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FinanceWall Street falls as tech earnings spark AI spending worries, oil hits $100
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On Thursday, July 23, 2026, Wall Street's three major indices fell, driven by concerns over AI spending following tech earnings reports and a surge in oil prices to US$100 per barrel. The Dow Jones Industrial Average dropped 506.93 points, or 0.97%, to 51,711.65. The decline reflects investor anxiety about the sustainability of heavy capital expenditure on artificial intelligence by major technology companies, coupled with rising energy costs that threaten corporate margins and economic growth. The article, published by The Business Times Singapore, highlights the dual pressures on the market from sector-specific earnings disappointments and broader commodity price shocks.
Source report
All three major indices fell for the day.
- The Dow Jones Industrial Average fell 506.93 points, or 0.97%, to 51,711.65 on Thursday.
Wall Street indexes closed lower on Thursday (Jul 23), as disappointing tech earnings reignited concerns over artificial intelligence spending and oil prices surged past US$100 per barrel.
Source
The Business TimesRegional
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