Business, economy, Finance, Oil, Stocks
U.S. stocks fell amidst a semiconductor selloff and Netflix's sharp decline, while oil prices surged due to escalating U.S.-Iran tensions, with gold and silver benefiting from safe-haven demand.
By William Collins, consultant in stock markets – Eurasia Business News, July 17, 2026. Article no 3029
U.S. stocks fell Friday as a deepening selloff in semiconductor shares and a sharp drop in Netflix extended a bruising week for technology investors, while oil prices surged on escalating U.S.-Iran tensions.
The Dow Jones Industrial Average declined 16.26 points, or 0.03%, to 52536.71. The S&P 500 shed 76.10 points, or 1.01%, to 7457.70, while the Nasdaq Composite lost 361.70 points, or 1.40%, to 25520.24.
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SpaceX declined 5.4%, adding to a slide that has now erased more than $1 trillion in market capitalization from the rocket maker’s peak valuation of nearly $2.7 trillion on June 16.
The market backdrop was a broad risk-off move: chip stocks extended their slide, Netflix sank after disappointing guidance, and oil climbed more than 4% to its highest level in more than a month as hostilities between the U.S. and Iran intensified. Oil benchmarks were on track for their largest weekly gains in months, reinforcing the pressure on equities.
Brent was at $87.59, up 3.99% on the day.
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On July 17, spot gold and silver both rose, extending the risk-off bid that accompanied the surge in oil prices and escalating U.S.–Iran tensions.
Both metals advanced modestly, underpinned by safe-haven demand as equities sold off and Brent crude spiked on the U.S. strikes targeting Iranian supply routes near the Strait of Hormuz.
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© Copyright 2026 – Eurasia Business News. Article no. 3029
Founded in 2017, Eurasia Business News is an independent platform where are published articles on economy, finance, geopolitics, tax and legal issues in Europe, America and Asia. Our goal is to bring new and valuable insights to business leaders, policymakers, scholars and citizens. Articles are published in both English and French. Premium content is available for monthly subscribers. View all posts by Eurasia Business News
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