Tesla and Google Led a Brutal Tech Sell-Off as Crypto Miners Rallied
As seen on the 24/7 Wall St. homepage on July 23, 2026.
Tesla cratered 14% and Google dropped 7% as a tech rout crushed mega-cap valuations, while crypto miners pivoted sharply higher on haven flows into digital assets.
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Tesla (TSLA) was the session's most punishing story, shedding 14.25% to close at $320.72. Google (GOOGL) was not far behind, falling 7.04% to $318.02. The losses were broad across mega-cap tech, with DigitalOcean dropping 7.69% to $131.72, Futu Holdings sliding 6.95% to $98.72, and Opendoor Technologies tumbling 11.76% to $3.87, underscoring how widely the selling pressure spread beyond the household names.
While tech absorbed the damage, crypto miners moved in the opposite direction. Cipher Mining (CIFR) gained 5.81% to $25.88 and Marathon Digital (MARA) rose 4.57% to $12.98, with the card noting that haven flows into digital assets drove the pivot. Hims & Hers added 4.18% to $33.01, Bruker climbed 3.28% to $61.70, and Super Micro Computer edged up 1.91% to $31.15, rounding out the session's gainers.
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The divergence between falling mega-cap tech and rising crypto-linked names is the defining dynamic of this close. Traders watching the next session will want to track whether the rotation into digital assets holds or reverses once the broader tech picture stabilizes.