By William Collins, consultant in stock markets – Eurasia Business News, July 17, 2026. Article no 3029

U.S. stocks fell Friday as a deepening selloff in semiconductor shares and a sharp drop in Netflix extended a bruising week for technology investors, while oil prices surged on escalating U.S.-Iran tensions.

The Dow Jones Industrial Average declined 16.26 points, or 0.03%, to 52536.71. The S&P 500 shed 76.10 points, or 1.01%, to 7457.70, while the Nasdaq Composite lost 361.70 points, or 1.40%, to 25520.24.

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SpaceX declined 5.4%, adding to a slide that has now erased more than $1 trillion in market capitalization from the rocket maker’s peak valuation of nearly $2.7 trillion on June 16. 

The market backdrop was a broad risk-off move: chip stocks extended their slide, Netflix sank after disappointing guidance, and oil climbed more than 4% to its highest level in more than a month as hostilities between the U.S. and Iran intensified. Oil benchmarks were on track for their largest weekly gains in months, reinforcing the pressure on equities.

Brent was at $87.59, up 3.99% on the day.

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On July 17, spot gold and silver both rose, extending the risk-off bid that accompanied the surge in oil prices and escalating U.S.–Iran tensions.

  • Gold (XAU/USD): closed at $4,017.32$, up $31.22 or +0.78% on the day.
  • Silver (XAG/USD): closed at $55.705$, up $0.282 or +0.51% on the day.

Both metals advanced modestly, underpinned by safe-haven demand as equities sold off and Brent crude spiked on the U.S. strikes targeting Iranian supply routes near the Strait of Hormuz.

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© Copyright 2026 – Eurasia Business News. Article no. 3029