Overview
- The split market showed up Thursday as the Nasdaq fell about 0.5–0.8% (roughly 200 points) while the Dow rose modestly and the S&P 500 traded near flat because heavy chip losses offset gains elsewhere.
- The Philadelphia SE Semiconductor Index dropped roughly 3.5–3.8% in a multi-day selloff that intensified Thursday and hit major suppliers and equipment makers.
- TSMC reported record second-quarter revenue and raised annual capex guidance but its stock fell after management warned customers that prices will rise, a comment traders cited as the immediate catalyst for the sector pullback.
- Individual chip names plunged: SK Hynix fell about 6%, Micron and AMD posted multi-percent drops, and Nvidia and other memory and foundry suppliers also showed steep losses.
- Renewed U.S.-Iran military strikes lifted oil prices into the high-$70s to mid-$80s per barrel and helped drive flows into healthcare, utilities, consumer staples and financials as investors reassess AI-era valuations and watch upcoming earnings and macro data.