Global tech glitch sinks Wall Street as S&P 500 logs worst week since April

Category: Finance

U.S. stocks closed lower, marking the worst week since April, with the S&P 500 down 0.7%. A global technology outage impacted various sectors, notably causing CrowdStrike's stock to plunge over 15%. Despite the downturn, some cybersecurity firms saw gains. Corporate earnings reports influenced stock prices, with Comerica and American Express experiencing significant drops. The market's volatility reflects concerns over Big Tech valuations and interest rate expectations.

Keywords: U.S. stocks, CrowdStrike, technology outage

Source: Fortune

Update At: 7/22/2024

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