S&P 500 has worst week since April due to tech sell-off, small-cap stocks rise

From Investing.com: 2024-07-19 16:08:10

The S&P 500 experienced its worst weekly loss since April due to a rotation out of tech stocks. Small-cap stocks were up as investors anticipated rate cuts. Netflix’s weaker-than-expected revenue guidance overshadowed positive quarterly results. CrowdStrike shares fell 11% after a global IT outage caused by an update. American Express stock dropped over 2% after disappointing revenue growth. Intuitive Surgical climbed 9% on beating estimates, while Travelers slumped 8%. Starbucks surged 6% on news of a large stake taken by Elliot Investment Management. Political wrangling continues as calls for Biden to exit the race grow amidst concerns over health and popularity.



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