Wall Street ends lower as chip weakness offsets solid earnings, economic data
- On Thursday, July 16, 2026, the Nasdaq Composite fell 1.47% to 25,881.95 as semiconductor stocks tanked, while the S&P 500 declined 0.51% amid global AI jitters.
- Nervousness surrounding massive AI infrastructure costs is rippling through Wall Street, with the SOX chip index down 4.3% as semiconductor stocks now represent over 20% of the S&P 500, up from 8% years ago.
- Memory-Chip makers led declines, with SanDisk, Western Digital, Seagate Technology, and Intel falling between 5.8% and 12.6%, despite TSMC posting a 77% quarterly profit jump that underscored lofty sector expectations.
- Bucking the tech selloff, the Dow Jones Industrial Average dropped 0.2% to 52,553.32, cushioned by UnitedHealth Group's 1.2% gain as healthcare stocks rose 2.2% overall.
- Solid economic data released Thursday—surging manufacturing activity and dropping jobless claims—offered a counterpoint to tech weakness as analysts focus on earnings season with companies expected to post 24.8% year-on-year growth.
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The New York Stock Exchange opened in retreat on Friday, with losses on the semiconductor side resulting in red indices given the weight of the technology sector on the market as a whole.
Chip selloff drags Wall Street lower, offsetting solid earnings | Honolulu Star-Advertiser
NEW YORK >> Chip stocks pulled the Nasdaq and the S&P 500 lower today as they continue to lead broader market moves despite generally upbeat U.S. economic data and what has so far been a strong earnings season.
Major chip manufacturers scored heavy casualties during this Thursday’s day.
US stocks today: Nasdaq ends lower as chip weakness offsets solid earnings, economic data
U.S. stocks slipped as chipmakers dragged the Nasdaq and S&P 500 lower despite solid economic data and strong earnings expectations. Semiconductor weakness offset gains in healthcare, while rising oil prices and escalating U.S.-Iran tensions added pressure. Investors remain cautious amid volatility, even as retail sales and labor data signal underlying economic resilience.
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