US Stocks Waver
2026-07-27 14:54
By
Andre Joaquim
1 min. read
US stock indices wavered on Monday amid a fresh selloff for chip producers ahead of a Fed decision and major economic updates this week.
The S&P 500 swung to 0.3% lower while the Nasdaq 100 dropped 1%.
Nvidia dropped 4.5% after announcing a $500 billion AI memory chip supply deal from SK Hynix.
Separately, Nvidia guaranteed $250 billion for OpenAI to lease computing from a data center project, reigniting concerns that circular deals in AI computing could trigger contagion and unwind the AI trade should capex growth be halted.
Micron, AMD, Indel, and Sandisk dropped between 6% and 10%.
Still, the Dow added 0.5% on softer concerns of tight financial conditions.
The US and Iran paused strikes over the weekend and fuel prices retreated from peaks.
The consequent drop in yields reflected almost null expectations the Federal Reserve may deliver a rate hike this week, pushing back eventual tightening to September.
Apple, Meta, Amazon, and Microsoft were higher ahead of earnings this week.