IBM Posts Record 25% Single-Day Decline as U.S. Stocks Rise on Cooler Inflation, July 14

U.S. stocks rose on July 14 as June consumer price inflation came in below expectations at 3.5% year-over-year, easing concerns about further Federal Reserve rate hikes. The S&P 500 gained 0.38%, the Nasdaq climbed 0.90%, and the Philadelphia Semiconductor Index surged 2.54%.

However, IBM plummeted over 25% to $217.07 per share, marking its largest single-day decline since at least 1968, after the company issued a profit warning citing shifts in customer capital spending toward AI infrastructure rather than software and mainframes. WTI crude oil rose 1.5% to above $79 per barrel following renewed U.S. airstrikes on Iran, offsetting the earlier impact of President Trump's decision to withdraw a proposed 20% toll on ships transiting the Strait of Hormuz.