The major U.S. stock indexes ended **sharply lower** on Friday, **July 17, 2026**, capping the **worst week for the Nasdaq since March** as a historic semiconductor rout deepened, **Netflix plunged on weak guidance**, and **China's Moonshot AI lab released what it called the world's most powerful open AI model**, casting fresh doubt on whether American AI spending at this scale can be justified. The Philadelphia Semiconductor Index is now down more than 20% from its late June record high, firmly in bear market territory.
The **S&P 500** dropped **1.01%** (-76.08 pts) to **7,457.69**, down more than 1.5% for the week. The **Dow** fell **0.77%** (-406.55 pts) to **52,146.42.** The **Nasdaq** slid **1.40%** (-361.70 pts) to **25,520.24**, down 2.9% on the week. The **Russell 2000** dropped **0.42%** (-12.35 pts) to **2,962.22.**
The **VIX** surged **12.13%** to **18.76.** **Gold** gained **0.65%** to **$4,018.00.** **Crude Oil** climbed **4.14%** to **$81.52/barrel**, back at its highest level in over a month.
