Tesla falls 18% in a week, its largest drop since 2022; SpaceX drops over 7%

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On-chain data shows Tesla dropped over 2% on Friday, marking a nearly 18% weekly decline—the largest since 2022. SpaceX also fell over 7% for the week, with its stock reaching new lows. Major chipmakers including SanDisk, Coherent, SK hynix, and Kioxia ADR also experienced sharp declines. On-chain analysis reveals increasing pressure across key technology and EV sectors.

BlockBeats news, on July 25, according to BIT (bit.com) market data, the three major U.S. stock indices closed mixed on Friday: the Dow Jones Index rose 0.46%, the S&P 500 Index increased 0.05%, and the Nasdaq Index fell 0.64%. The Philadelphia Semiconductor Index plunged 4.25%.


Individually, SanDisk fell over 10%, Coherent dropped more than 9%, SK hynix declined over 8%, and Kioxia ADR slid more than 14%. Additionally, chip stocks including Marvell Technology, Intel, Western Digital, and Micron Technology also experienced significant declines.


Tesla fell over 2%, posting its largest weekly decline since 2022 with a cumulative drop of nearly 18% this week; SpaceX shares hit a new low, falling over 7% this week.

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