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Eli Lilly ( LLY ) rises as weight-loss drug gets approval in China

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Intuitive hits record high after quarterly results beat

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SLB up after beating quarterly profit estimates

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Insurer Travelers gains on higher Q2 profit

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Indexes down: Dow 0.44%, S&P 500 0.05%, Nasdaq 0.10%

(Updated at 9:48 a.m. ET/ 1348 GMT)

By Lisa Pauline Mattackal and Ankika Biswas

July 19 (Reuters) - Wall Street's main indexes fell on

Friday, deepening a sell-off driven by tech stocks and mixed

earnings, while investors assessed the impact of a global cyber

outage that knocked down CrowdStrike's ( CRWD ) shares to an over

two-month low.

Cybersecurity firm CrowdStrike ( CRWD ) slumped 11.2%

after an update to one of its products appeared to trigger an

outage that affected customers using Microsoft's ( MSFT )

Windows Operating System, disrupting businesses across sectors.

Major U.S. airlines ordered ground stops citing

communication issues, with the Euronext exchange and London

Stock Exchange Group's ( LDNXF ) Workspace news and data platform

also facing issues. LSEG later said its data and services were

back online.

Microsoft ( MSFT ) slipped 0.7% to an over one-month low, on track

for a four-day decline, driven by a rout in tech stocks.

"Any hint of bad news, because they (tech stocks) are so

priced to perfection is going to hurt these stocks, both

(CrowdStrike ( CRWD ) and Microsoft ( MSFT )) are excellent companies and are

worthwhile long-term holds," said Phil Blancato, CEO of

Ladenburg Thalmann Asset Management.

The disruption comes after two grueling sessions for Wall

Street, as investors assessed second-quarter earnings and a move

away from megacaps that have primarily driven the equity rally

in 2024.

Megacaps were largely mixed, with Nvidia ( NVDA ) and

Amazon.com ( AMZN ) losing 1% and 0.5%, while Apple ( AAPL ) and

Alphabet gained 1% each.

Chip stocks also struggled for direction. U.S.-listed shares

of Taiwan Semiconductor Manufacturing were down nearly

1.5%, while Arm Holdings jumped 3%.

Over the past two sessions, the Nasdaq has dropped 3.5% and

the S&P 500 has fallen 2.1%, keeping the indexes on track for

weekly losses.

Signaling investor unease, the VIX - Wall

Street's "fear gauge" - was trading at its highest since early

May.

Investors will also await comments from Federal Reserve

officials John Williams and Raphael Bostic for hints on the

policy path later in the day.

Markets have priced in a 25-basis-point interest-rate cut by

September and expect two cuts by year-end according to LSEG

data.

At 9:48 a.m. ET, the Dow Jones Industrial Average was

down 179.14 points, or 0.44%, at 40,485.88, the S&P 500

was down 2.69 points, or 0.05%, at 5,541.90, and the Nasdaq

Composite was down 18.08 points, or 0.10%, at 17,853.15.

Meanwhile, other cybersecurity shares rose, with Palo Alto

Networks ( PANW ) rising 1.5% and SentinelOne ( S ) up 6.4%.

Eli Lilly ( LLY ) jumped 2.6% after China approved its

weight-loss drug tirzepatide, while Intuitive Surgical ( ISRG )

rose 8% after a second-quarter results beat.

That helped the S&P 500 healthcare index lead

sectoral gainers.

Netflix ( NFLX ) fell 1% in choppy trading after the

streaming giant cautioned third-quarter subscriber additions

would be lower than a year earlier.

0ilfield services provider SLB rose 1.3% after

strong second-quarter profits.

S&P 500 companies that have reported second-quarter

earnings to date recorded an 85% beat rate, with the growth rate

standing at 11.1%.

Declining issues outnumbered advancers for a 1.40-to-1

ratio on the NYSE and for a 1.19-to-1 ratio on the Nasdaq.

The S&P index recorded 27 new 52-week highs and three new

lows, while the Nasdaq recorded 16 new highs and 33 new lows.

(Reporting by Lisa Mattackal and Ankika Biswas in Bengaluru;

Editing by Pooja Desai and Devika Syamnath)