Why Wall Street Dumped Tech Into the Close

The Thursday session closed Red. Here is why: Escalating Middle East tensions drove crude oil above $90, pushing 10-Year Treasury yields to a 2026 high of 4.71%. At the same time, massive AI capital expenditure forecasts from Alphabet and Tesla sparked severe spending fatigue, locking equities in a defensive downtrend.THE SCOREBOARD:🚀 Winners: Energy & Defense (RTX surged on Q2 beats and strong backlog).📉 Losers: Mega-Cap Tech & Consumer Discretionary (GOOGL & TSLA slammed by capex fears).THE LOOK AHEAD:🔔 The #1 Thing to Watch Tomorrow: S&P 500 key support at 7,480. A breakdown below 7,480 flips dealer positioning into negative gamma, which could trigger accelerated market-maker selling into the weekend.Content is for informational and educational purposes only. Market data may be subject to platform delays. This is not financial advice.