Tech Rout Drags Markets Lower as Meta Misses, Oil Surges on Iran Tensions
· Market News · MarketsFN Team
Tech Selloff Sparks Broad Market Retreat as Meta Disappoints, Oil Jumps 7%
US equities tumbled Wednesday as Meta's earnings miss triggered a tech sector rout, while crude oil surged nearly 7% after former President Trump threatened Iran following a surprise attack. The Nasdaq 100 led declines with a 2.06% drop, its worst session in three weeks.
🇺🇸 US Session Overview
Tech stocks bore the brunt of selling pressure after Meta Platforms (META) fell sharply following disappointing revenue guidance. The Nasdaq 100's 2.06% decline outpaced broader indices, with semiconductor stocks particularly weak after Qualcomm warned of price hikes amid memory supply constraints. The Dow Jones Industrial Average dropped 2.19% to 51,594.14, dragged down by Microsoft's post-earnings retreat despite beating cloud expectations. The S&P 500 fell 1.52% to 7,316.15, with communication services and technology sectors both down over 2%. Small caps showed relative resilience, with the Russell 2000 declining 1.61% to 2,906.31.📅 Economic Calendar Highlights
No major economic data releases crossed the wires Wednesday, leaving markets to focus on corporate earnings and geopolitical developments. Investors continue digesting yesterday's Fed decision, where three members dissented in favor of a rate hike while Chair Warsh reiterated the central bank's inflation-fighting resolve. Attention now turns to Thursday's Q2 GDP advance estimate and weekly jobless claims, which may provide fresh clues about the economy's resilience amid tightening financial conditions.📋 Earnings Spotlight
Today's earnings calendar featured mostly mid-cap names, with ADP and Amphenol among the notable reporters. However, after-hours attention remains focused on Meta's guidance miss and Microsoft's cloud performance, which saw Azure surpass $100 billion in annual revenue despite the stock pulling back.💱 FX & Commodities
The dollar weakened against most majors, with the EUR/USD gaining 0.75% to 1.1455 as risk-off flows supported the euro. Gold jumped 1.83% to $4,110.10/oz, benefiting from both dollar weakness and safe-haven demand. Crude oil staged a dramatic rally, with WTI surging 6.9% to $84.73 and Brent climbing 7.9% to $90.73 after Trump's Iran comments raised supply disruption fears. Natural gas followed higher with a 2.52% gain, while cryptocurrencies lagged with Bitcoin dipping 0.45%.Asian markets open Thursday facing crosscurrents from Wall Street's tech selloff and surging oil prices, with Japan's inflation data and South Korean GDP on tap. Traders will watch whether Meta's after-hours rebound holds and monitor Trump's Iran rhetoric for further energy market volatility.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,316.15 | ▼ -112.63 | ▼ -1.52% |
| Nasdaq 100 | 27,192.31 | ▼ -570.82 | ▼ -2.06% |
| Dow Jones | 51,594.14 | ▼ -1153.18 | ▼ -2.19% |
| Russell 2000 | 2,906.31 | ▼ -47.49 | ▼ -1.61% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1455 | ▲ +0.75% |
| GBP/USD | 1.3348 | ▲ +0.44% |
| USD/JPY | 163.53 | ▼ -0.15% |
| AUD/USD | 0.695 | ▼ -0.54% |
| USD/CHF | 0.8146 | ▼ -0.57% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,110.10 | ▲ +1.83% |
| Silver (XAG/USD) | 57.51 | ▲ +0.38% |
| Crude Oil (WTI) | 84.73 | ▲ +6.90% |
| Brent Oil | 90.73 | ▲ +7.90% |
| Natural Gas | 2.73 | ▲ +2.52% |
| Bitcoin | 63,584.75 | ▼ -0.45% |
| Ethereum | 1,886.69 | ▼ -1.73% |
📋 Today's Earnings
| Ticker | Company | Timing | Market Cap |
|---|---|---|---|
| AADP | Automatic Data Processing Inc | BMO | 109340000000.0 |
| AAER | Aercap Holdings NV | BMO | 23440000000.0 |
| AAMRN | Amarin Corp ADR | BMO | 297080000.0 |
| AANIK | Anika Therapeutics Inc | BMO | 216030000.0 |
| AAON | Aon Plc | BMO | 80550000000.0 |
| AAPH | Amphenol Corp | BMO | 184920000000.0 |
| AARCB | ArcBest Corp | BMO | 3160000000.0 |
| AARCC | Ares Capital Corp | BMO | 13440000000.0 |
| AASC | Ardmore Shipping Corp | BMO | 683440000.0 |
| AAVTR | Avantor Inc | BMO | 9820000000.0 |
| AAXGN | Axogen Inc | BMO | 2200000000.0 |
| BBANC | Banc of California Inc | BMO | 2870000000.0 |
| BBAND | Bandwidth Inc | BMO | 1180000000.0 |
| BBG | Bunge Global SA | BMO | 20910000000.0 |
| BBIIB | Biogen Inc | BMO | 30920000000.0 |
| BBLCO | Bausch + Lomb Corp | BMO | 5780000000.0 |
| BBLKB | Blackbaud Inc | BMO | 1950000000.0 |
| BBSBR | Banco Santander (Brasil) SA ADR | BMO | 19090000000.0 |
| BBSX | Boston Scientific Corp | BMO | 68430000000.00001 |
| BBTU | Peabody Energy Corp | BMO | 2540000000.0 |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
No significant economic releases today.
Report published: July 29, 2026 — 22:21 CET
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