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Slumping AI stocks drag Wall Street lower, oil prices jump as US launches more airstrikes on Iran
By Associated Press at KSAT 12 (ABC affiliate)
· July 17, 2026
· 3 min read
Wall Street was on track to close the week with losses on Friday as the sell-off of chipmakers and other AI-related shares again dragged markets lower.Futures for the S&P 500 declined 0.8% while futures for the Dow Jones Industrial Average were down 0.5%. Nasdaq futures tumbled 1.6%.Most computer...
Key takeaway 8% while futures for the Dow Jones Industrial Average were down 0.
Why this matters in The San Antonio
San Antonio 's own tech industry, though smaller in scale, is closely tied to the global market trends. The slump in AI-related stocks could have a ripple effect on local businesses that rely on these technologies. With several major tech companies having a presence in the city, the downturn in the market may impact job security and investment in the area. Furthermore, the surge in oil prices due to the intensified conflict in the Middle East may lead to increased costs for local businesses and residents, particularly in the transportation sector. As the global market continues to fluctuate, San Antonio's economy will likely feel the effects, making it crucial for local leaders to monitor the situation and adapt strategies to mitigate any potential negative impacts on the city's businesses and residents. The city's economic development efforts may need to shift focus to support industries that are less vulnerable to global market volatility.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 17, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 3 min
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Frequently asked about this story
What is this story about? Wall Street was on track to close the week with losses on Friday as the sell-off of chipmakers and other AI-related shares again dragged markets lower.Futures for the S&P 500 declined 0.8% while futures for the Dow Jones Industrial Average were down 0.5%. Nasdaq futures tumbled 1.6%.Most computer...
When was this published? This article was first published on July 17, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The San Antonio, or browse our daily briefing and topic hubs .
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