US Stocks Mixed as Chip Selloff Deepens

2026-07-28 20:13 By Isabela Couto 1 min. read

US equity indices closed mixed on Tuesday as chipmakers extended their selloff, while earnings and falling oil prices supported investors' sentiment.

The S&P 500 gained 0.2% and the Dow Jones rose 537 points while the Nasdaq 100 fell 1%.

Concerns over slowing AI infrastructure spending and the circular nature of data center investment weighed on compute and memory chipmakers.

Micron slumped 8.8%, AMD lost 8.1%, Intel fell 5.9%, and Sandisk tumbled 14.2%.

The sector also came under pressure after the strong IPO of China's CXMT in Shanghai boosted optimism over rising competition.

Meanwhile, health and consumer staples outperformed.

Microsoft was up 1.1% and Meta closed little changed ahead of earnings on Wednesday.

Coca-Cola soared 5% after an earnings and revenue beat and a hike in its full-year outlook.

Eli Lilly was up 1.9%, Berkshire Hathaway gained 3.1%, and Visa rose 1.1% ahead of its earnings release.



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