Stock Market Update Thursday July 23, 2026

Stock Market Update Thursday July 23, 2026 Stocks came under heavy selling pressure, with the S&P 500 declining 1.2%, while the Roundhill Magnificent Seven ETF tumbled 4.6% after investors reacted negatively to Alphabet’s earnings report released after yesterday’s close. Semiconductor stocks failed to provide leadership, with the Philadelphia Semiconductor Index (SOX) falling broadly in line with the broader market.

Away From Stocks: Treasury yields continued their gradual ascent, reflecting ongoing pressure across the bond market. The 2-year Treasury yield rose six basis points to 4.37%, while the 30-year Treasury yield added two basis points to 5.17%. Commodity markets were dominated by a sharp surge in energy prices, with WTI crude oil rallying 6% to approach $92 per barrel amid heightened geopolitical concerns. Gold pulled back modestly to $4,051 per ounce as rising yields weighed on precious metals. Risk assets also faced pressure, with bitcoin falling below the $65,000 level, while market volatility increased as the VIX gained nearly two points to approach 19, signaling a rise in investor caution and demand for downside protection.