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FinanceChip stocks plunge on China competition fears, erasing early gains
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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.
Source report
Last Updated: 1 hour ago
By Naomi Buchanan
What started as a strong day on Wall Street has taken a turn, thanks to chip stocks.
The S&P 500 and the Nasdaq Composite reversed gains, wavering near the flatline after opening higher. The Dow Jones Industrial Average was up 0.6%, or 300 points, paring more significant gains seen earlier in the session.
The PHLX Semiconductor Index was down 4.3% after opening higher. Nvidia, AMD, Micron, and ASML are some of the chip maker stocks dragging the semi index and the broader market lower, thanks to the group's heavy impact on the major indexes.
Source
Yahoo FinanceWestern
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Chip Stocks Sink on China Competition Concerns, Erasing Early Gains