Stocks Close in the Red, Leading S&P 500 and Nasdaq to Weekly Losses Due to Tech Sell-Off

Stock Market Update: Major Indexes Show Mixed Signals Before Opening Bell

In a day filled with market movers, the S&P 500 saw some significant shifts in stock prices on Friday. Here are some of the biggest movers that caught investors’ attention:

Decliners:
1. CrowdStrike Holdings (CRWD) – Cybersecurity firm CrowdStrike experienced a major setback as a defective software update led to widespread outages, impacting major cloud computing platforms. Shares of CrowdStrike plummeted 11.1%, marking the heaviest losses of any S&P 500 stock.
2. W.R. Berkley (WRB) – Shares of the commercial lines insurance firm dropped 8.3% as the company could face a flurry of business interruption insurance claims due to the CrowdStrike outage.
3. Travelers Companies (TRV) – The insurer saw its shares decline by 7.8% after releasing its second-quarter earnings report, which fell short of analysts’ estimates.

Advancers:
1. Intuitive Surgical (ISRG) – Shares of the robotic medical devices manufacturer soared 9.3% to a record high after surpassing sales and profit forecasts with its second-quarter results.
2. Starbucks (SBUX) – The coffee giant’s shares jumped 6.9% amid reports of activist investor Elliott Investment Management accumulating a significant position in the company.
3. Huntington Bancshares (HBAN) – The bank holding company’s stock advanced 3.9% after reporting better-than-expected revenue and earnings per share for the second quarter.

Overall, the market saw a mix of ups and downs, with some companies facing challenges while others experienced significant gains. Investors will be closely watching how these movements continue to unfold in the coming days.