Stock Market Today, July 23: Tesla Drops 15%, Leading Tech Stock Slide

Major technology stocks declined sharply on July 23, 2026, as investors grew concerned about massive AI infrastructure spending without clear returns. Tesla fell 15% and Alphabet dropped 7% following earnings reports. The Nasdaq Composite fell 2.15%, S&P 500 lost 1.21%, and the Dow declined 0.97%. Rising oil prices and Treasury yields added to the risk-off sentiment, while industrials and healthcare showed relative strength.