Nasdaq 100 Sinks While Dow Notches Fresh Record

2026-07-07 13:34 By Andre Joaquim 1 min. read

US stock indices were mixed on Tuesday as fresh volatility for chip producers weighed against resilience in traditional economic sectors.

The S&P 500 was flat and the Nasdaq 100 dropped 1.5%, while the Dow rose nearly 200 points to a new record high.

Memory producers sank with Micron and Sandisk dropped around 7% each, even though Samsung posted a 19-fold surge in profit last quarter.

The surge was in line with the sector's stocks rally this year, driving markets grow increasingly skeptical on whether AI hyperscalers can justify elevated levels of capital expenditure on infrastructure.

Consistently, SpaceX dropped 1% amid its inclusion in the Nasdaq 100.

In turn, banks and pharmaceutical companies were mostly higher with JPMorgan adding 1% and J&J gaining 3%, extending their strong momentum despite lingering macroeconomic uncertainty.

Yields edged higher after attacks on an LNG tanker in the Middle East tempered hopes of lower energy inflation.



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2026-07-07
Nasdaq 100 Sinks While Dow Notches Fresh Record
US stock indices were mixed on Tuesday as fresh volatility for chip producers weighed against resilience in traditional economic sectors. The S&P 500 was flat and the Nasdaq 100 dropped 1.5%, while the Dow rose nearly 200 points to a new record high. Memory producers sank with Micron and Sandisk dropped around 7% each, even though Samsung posted a 19-fold surge in profit last quarter. The surge was in line with the sector's stocks rally this year, driving markets grow increasingly skeptical on whether AI hyperscalers can justify elevated levels of capital expenditure on infrastructure. Consistently, SpaceX dropped 1% amid its inclusion in the Nasdaq 100. In turn, banks and pharmaceutical companies were mostly higher with JPMorgan adding 1% and J&J gaining 3%, extending their strong momentum despite lingering macroeconomic uncertainty. Yields edged higher after attacks on an LNG tanker in the Middle East tempered hopes of lower energy inflation.
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Futures tracking US equity indices were mixed on Tuesday as fresh volatility for chip producers was combined with sustained resilience in traditional economic sectors. Contracts for the S&P 500 inched lower and the Dow added 150 points to a new record, while the plunge in semiconductor manufacturers pressured the Nasdaq 100 to a 1.5% drop. Micron and Sandisk sank 6% premarket even though Samsung posted a 19-fold surge in profit last quarter. The surge was in line with the sector's rally this year, and markets grow increasingly skeptical on whether AI hyperscalers can justify elevated levels of capital expenditure on infrastructure. Consistently, SpaceX dropped 1% ahead of its inclusion in the Nasdaq 100. In turn, banks and pharmaceutical companies were mostly higher, extending their strong momentum despite lingering macroeconomic uncertainty. Yields edged higher after attacks on an LNG tanker in the Middle East tempered hopes of lower energy inflation.
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