US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.

Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.

wallstreetcnJul 19 21:32 ET

Is the frenzy of small cap stocks in the US stock market just a short-lived short squeeze?

Biotechnology and regional banks, which were heavily shorted before, performed the best in terms of stocks. Analysts believe that short-covering is a major factor driving the recent rise in the Russell 2000.

wallstreetcnJul 19 09:55 ET

Insider's Guide to Financial Market Evolution

The world of finance is abuzz with exciting developments! From the revolutionary potential of Fintech to the enigmatic rise of Central Bank Digital Currencies, the way we manage and interact with money is undergoing a fascinating transformation.

FXStreetJul 19 03:02 ET

Two officials of the Federal Reserve indicated that it is necessary to reform the discount window tool.

Boorman, a director of the Federal Reserve, and Logan, the president of the Dallas Federal Reserve, suggested that the Federal Reserve should assess to what extent its emergency lending tools can meet the liquidity needs of the banking system, implying the need to reform the discount window.

Zhitong FinanceJul 19 01:22 ET

Elliott Wave Technical Analysis: S&P500, Nasdaq 100, Russell 2000, DAX 40, FTSE 100, ASX 200 [Video]

S&P 500 (SPX) and NASDAQ 100 (NDX): These indices show distinct corrective patterns.

FXStreetJul 19 01:05 ET

Another Federal Reserve official hinted that interest rate cuts are imminent: Waiting too long to act poses a risk of recession.

Chicago Fed President Charles Evans said that the actual federal funds rate has tightened significantly and the economy is not overheating, so this restriction is not needed; the Fed may need to cut interest rates quickly to avoid further deterioration in the labor market. Dallas Fed President Robert Kaplan did not mention monetary policy, stating that the crisis triggered by Silicon Valley Bank last year shows that the current federal deposit insurance limit may be too low, and the last time the limit was raised was in 2008.

wallstreetcnJul 18 19:09 ET