US Stocks Retreat on Thursday

2026-04-23 20:16 By Luisa Carvalho 1 min. read

US equities closed lower on Thursday, halting the recent rally, amid the latest developments in the Middle East and as investors parsed mixed corporate earnings.

The Nasdaq 100 fell 0.9%, while the S&P 500 and the Dow each decreased 0.3%.

WTI crude futures surged past $106 per barrel, amid ongoing blockades in the Strait of Hormuz and following media reports that air defense systems were activated in parts of Tehran.

Tech stocks were the main drag after yesterday's outperformance amid mixed results on speculative AI companies.

Tesla fell 3.5% amid skepticism on its announcement of higher AI and robotics spending.

Shares of IBM and ServiceNow tumbled 8% and 17%, respectively, following disappointing quarterly results.

Other software stocks followed suit, with Microsoft sliding 4%, Palantir Technologies down 7%, and Oracle falling 6%.

On the flip side, Texas Instruments surged 19.4% after forecasting second-quarter revenue and profit above estimates.



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