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macroJul 23, 2026, 3:07 PM

Nasdaq 100 Sinks Over 2.5% as Iran Tensions, Tech Earnings Weigh

The Nasdaq 100 fell more than 2.5% amid an escalation in the Iran conflict and disappointing technology earnings, wiping $900 billion off the S&P 500's market cap.

NDXSPX

The Nasdaq 100 extended its daily decline to over 2.5% as escalating tensions with Iran and disappointing technology sector earnings weighed on risk appetite.

The broader S&P 500 has now lost approximately $900 billion in market capitalization during today's session, according to data cited by The Kobeissi Letter.

Source: The Kobeissi Letter