Tech Rout Drives US Stock Market Volatility Amidst Oil Price Surge

The US stock market experienced a tumultuous trading week from July 24 to 28, marked by sharp intraday swings and divergent performance across sectors.

The week began with a broad sell-off driven by Middle East anxieties, but witnessed a mid-week rebound fueled by a semiconductor rally.

However, the tech-heavy Nasdaq Composite posted a weekly decline of 2.09% to 24,975.82, while the benchmark S&P 500 lost 0.47% to close at 7,408.30.

Rising oil prices and disappointing earnings from Alphabet and Tesla triggered a widespread technology sell-off on Thursday, with the Nasdaq Composite falling 2.15%.