U.S. dollar ticks up

The U.S. dollar went up in late trading on Thursday.

The dollar index, which measures the greenback against six major peers, gained 0.32 percent to 101.445 at 15:00 (1900 GMT).

In late New York trading, the euro decreased to 1.1377 U.S. dollars from 1.1411 dollars in the previous session, and the British pound dropped to 1.3318 dollars from 1.3373 dollars in the previous session.

The U.S. dollar bought 163.80 Japanese yen, higher than 163.13 Japanese yen of the previous session. The U.S. dollar advanced to 0.8169 Swiss francs from 0.8146 Swiss francs, and it decreased to 1.4076 Canadian dollars from 1.4085 Canadian dollars. The U.S. dollar increased to 9.7663 Swedish kronor from 9.7014 Swedish kronor.

U.S. stocks suffered heavy losses on Thursday as higher capital expenditure guidance from Alphabet and Tesla rattled investor confidence, while global oil prices surged past 100 U.S. dollars a barrel amid persistent Middle East hostilities.

The Dow Jones Industrial Average fell by 506.93 points, or 0.97 percent, to 51,711.65. The Standard and Poor's 500 sank 90.66 points, or 1.21 percent, to 7,408.3. The Nasdaq Composite Index shed 553.21 points, or 2.15 percent, to 25,137.69.

Seven of the 11 primary Standard and Poor's 500 sectors ended in the red, with communication services and consumer discretionary leading the laggards by losing 5.2 percent and 5.12 percent, respectively. Meanwhile, industrials and health led the gainers by rising 1.77 percent and 1.29 percent, respectively.

The broader market decline was driven by a sharp sell-off across "The Magnificent Seven" technology heavyweights following Wednesday's after-hours quarterly disclosures. Although Google parent Alphabet posted fundamentally solid financial results, the company's decision to raise its capital expenditure guidance stoked intense market scrutiny regarding near-term return on investment for AI infrastructure. Alphabet lost nearly 7 percent on Thursday.

Concurrently, Tesla plummeted 14.52 percent after delivering a significant second-quarter earnings miss. Tesla CEO Elon Musk further cautioned that 2026 will be a "massive capex year" as the firm aggressively ramps up investments in Optimus humanoid robotics, autonomous robotaxis, and specialized data center capacity. The cautious sentiment spilled over to peer mega-cap growth equities, pulling Amazon and Meta Platforms down 4.57 percent and 3.36 percent, respectively.