Story · Nvidia
Chip Stocks Sink on China Competition Concerns, Erasing Early Gains
On July 27, 2026, Wall Street experienced a sharp reversal as chip stocks plunged on concerns over competition from China. The S&P 500 and Nasdaq Composite, which opened higher, wavered near the flatline, while the Dow Jones Industrial Average pared earlier gains to trade up 0.6%. The PHLX Semiconductor Index fell 4.3%, dragged down by major chip makers including Nvidia, AMD, Micron, and ASML. The selloff erased early session gains and highlighted investor anxiety about Chinese competition in the semiconductor sector, which has significant weight in major indexes.
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