On Wednesday, July 24th, the U.S. stock markets closed lower, with the S&P 500 and Nasdaq hitting multi-week lows as disappointing Alphabet (NASDAQ:GOOG) and Tesla (NASDAQ:TSLA) earnings shook investor confidence in megacap stocks. This led to the S&P 500’s largest daily drop since December 2022 and the Nasdaq’s since October 2022. In economic data, the S&P Global composite PMI rose to 55.0 in July. The U.S. trade deficit in goods decreased to $96.84 billion in June, while new home sales fell 0.6% to an annualized rate of 617,000. The S&P 500’s sectors largely closed negative, with information technology, communication services, and consumer discretionary seeing the biggest losses, while utilities and healthcare stocks closed higher. Also Read: Google’s ‘Mojo’ Is Back, Says Wedbush Analyst Dan Ives, Sees More Upside For Alphabet Stock The Dow Jones Industrial Average was down 1.25% and closed ...