Wall St extends slump after global tech glitch, S&P 500, Nasdaq headed for weekly losses
Cybersecurity stocks rise after outage
Intuitive hits record high after quarterly results beat
Travelers Companies weighs on Dow
Indexes down: Dow 0.95%, S&P 0.73%, Nasdaq 0.85%
Updates to 2:33 p.m. EDT
By Stephen Culp
July 19 (Reuters) -U.S. stocks added a third straight day to their sell-off on Friday as lingering chaos related to a global technical outage caused by a software glitch added uncertainty to an already-anxious market.
The far-reaching, worldwide tech outage disrupted operations across multiple industries including airlines, banking and healthcare after the glitch in cybersecurity firm Crowdstrike's CRWD.O software caused Microsoft's MSFT.O Windows operating system to crash.
While the flaw was identified and fixes deployed, technical issues continue to affect some services.
Crowdstrike shares slid 12.1%, while rival cybersecurity firms Palo Alto Networks PANW.O and Sentinal One S.N were up 1.6% and 8.5%, respectively.
All three major U.S. stock indexes were lower, with the Dow Jones Industrial average suffering the worst of it.
On a weekly basis, both the Nasdaq and the S&P 500 were on track for their worst week since April, while the Dow, having reached a series of all-time closing highs earlier in the week, appeared primed to post a Friday-to-Friday gain.
The tech-heavy Nasdaq seemed headed toward snapping its six-week winning streak.
"If you’re trying to fly today it was not a fun day, but overall for markets it doesn’t appear to be too big of a hiccup," Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska. "After a historic rally since May, this weakness seems to be just the market catching its breath."
"You have to be kind of impressed how market participants have taken today’s huge outages in stride," Detrick added.
The smallcap Russell 2000 .RUT - a beneficiary of a recent pivot away from megacap growth stocks - was last off 0.6%.
The CBOE Market volatility index .VIX, considered a gauge of investor anxiety, touched its highest level since late April.
Nvidia shares NVDA.O led a sell-off in chips. The Philadelphia SE Semiconductor index .SOX underperformed the broader market, tumbling 2.8%.
Elsewhere, Federal Reserve Bank of New York President John Williams reiterated the central bank's commitment to bringing inflation down to its 2% target.
Financial markets have priced in a 93.5% likelihood that the Fed will enter a rate-cutting phase at the conclusion of its September meeting, according to CME's FedWatch tool.
At 2:33 p.m. EDT, the Dow Jones Industrial Average .DJI fell 387.25 points, or 0.95%, to 40,277.77, the S&P 500 .SPX lost 40.52 points, or 0.73%, to 5,504.07 and the Nasdaq Composite .IXIC dropped 151.31 points, or 0.85%, to 17,719.92.
Second-quarter earnings season approaches the end of its first full week, with 70 of the companies in the S&P 500 having reported. Of those, 83% have beaten consensus, according to LSEG.
Analysts now see aggregate year-on-year S&P 500 earnings growth of 11.1%, an improvement over the 10.6% estimate as of July 1.
Next week, a swath of high-profile results is expected from Tesla TSLA.O, Alphabet GOOGL.O, IBM IBM.N, General Motors GM.N, Ford F.N and a host of other companies.
"It's early in earns season, but things have been impressive," Carson Group's Detrick said. "But the big boys are starting to report next week and what we want to hear is how strong the consumer is and what's the outlook for future economic growth."
Eli Lilly LLY.N advanced 0.7% after China approved its weight-loss drug tirzepatide, while Intuitive Surgical ISRG.O jumped 8.8% after a second-quarter results beat.
Travelers TRV.N tumbled 7.3% on lower-than-expected growth in net written premiums.
Netflix NFLX.O fell 0.9% in choppy trading after the streaming giant cautioned third-quarter subscriber additions would be lower than a year earlier.
Oilfield services provider SLB SLB.N rose 1.7% after strong second-quarter profit.
Declining issues outnumbered advancing ones on the NYSE by a 2.14-to-1 ratio; on Nasdaq, a 1.77-to-1 ratio favored decliners.
The S&P 500 posted 27 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 39 new highs and 81 new lows.
RUT vs SPX YTD https://reut.rs/4dccgGR
Reporting by Stephen Culp in New York
Additional reporting by Lisa Pauline Mattackal and Ankika Biswas in Bengaluru
Editing by Devika Syamnath and Matthew Lewis
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
