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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid escalating geopolitical tensions in the Middle East and the Taiwan Strait, markets experienced sharp shifts characterized by surging oil prices and increased demand for the US dollar as a safe haven. According to reports, WTI crude oil broke above the $90 threshold for the first time in six weeks, while Brent crude reached $98.91. This rally coincided with selling pressure in the tech sector after Alphabet's earnings revealed its first-ever negative free cash flow, sparking investor concerns regarding the scale of AI expenditure.
In the currency markets, USD/JPY hit a 40-year high of 163.58, driven by geopolitical friction and hawkish Federal Reserve expectations. Looking at tech sector performance per market data, GOOGL closed at $319.94 and GOOG at $319.91 on July 23, 2026, while peers showed mixed results with MSFT closing at $381.54 and META at $606.87 on the same date.
Traders should monitor support levels for Alphabet shares following their 5% pre-market decline, noting that GOOG hit a session low of $314.89 on July 23, 2026. With no major upcoming catalysts in the economic calendar for the next few days, market focus remains on Middle East developments and their impact on bond yields, which recently dragged Nasdaq futures down by 0.8%.