Chip Stocks Extend Selloff

2026-07-28 13:37 By Andre Joaquim 1 min. read

US equity indices were mixed on Tuesday as chip producers extended their selloff, contrasting with relief on other sectors.

The S&P 500 was flat, while the Nasdaq 100 dropped 1% and the Dow gained 300 points.

Concerns of slowing spending on AI infrastructure and the circularity of data center investments grappled compute and memory producers, with Micron, Sandisk dropping more than 7%.

The sector was also punished by optimism on Chinese competitors following the strong CXMT IPO in Shanghai.

Nvidia fell 1.5% and AMD lost around 5%.

On the other hand, software-facing and non-tech shares were mostly higher, with Microsoft and Meta inching higher ahead of their earnings tomorrow.

Credit costs extended their pullback, tracking lower energy pries as US officials signaled willingness for diplomacy with Iran.

JPMorgan was higher to set the pace for the banks, while Visa gained 1% ahead of its earning release after the close.

Also, Coca Cola gained 3% after boosting its outlook.



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Chip Stocks Extend Selloff
US equity indices were mixed on Tuesday as chip producers extended their selloff, contrasting with relief on other sectors. The S&P 500 was flat, while the Nasdaq 100 dropped 1% and the Dow gained 300 points. Concerns of slowing spending on AI infrastructure and the circularity of data center investments grappled compute and memory producers, with Micron, Sandisk dropping more than 7%. The sector was also punished by optimism on Chinese competitors following the strong CXMT IPO in Shanghai. Nvidia fell 1.5% and AMD lost around 5%. On the other hand, software-facing and non-tech shares were mostly higher, with Microsoft and Meta inching higher ahead of their earnings tomorrow. Credit costs extended their pullback, tracking lower energy pries as US officials signaled willingness for diplomacy with Iran. JPMorgan was higher to set the pace for the banks, while Visa gained 1% ahead of its earning release after the close. Also, Coca Cola gained 3% after boosting its outlook.
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