Disappointing earnings from Tesla and Alphabet, coupled with rising oil prices, dragged major indices lower this week.
US equities declined as Big Tech earnings and surging oil prices weighed on sentiment. The Nasdaq dropped 2% for the week, while the S&P 500 and Dow fell 0.6% and 0.4%, respectively, with technology stocks leading losses.
Tesla plunged 14.5% after reporting negative free cash flow for the first time in over two years, raising concerns about demand and funding costs. Alphabet slid 7% despite strong cloud growth, as its $200 billion 2026 capital spending forecast spooked investors. The sell-off pressured other tech giants ahead of earnings.
Brent crude’s rise above $100 a barrel, driven by US-Iran tensions, reignited inflation fears and rippled through financial markets. The move added to volatility in semiconductor shares, further dampening risk appetite.