Chip Stock Sell-off Drags Broader Market Lower

Price ActionMacro Impact 4
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Summary · why it matters

A sharp sell-off in chip stocks put downward pressure on the broader market Friday, with the iShares Semiconductor ETF falling more than 4 percent. The S&P 500 Index slipped 0.08 percent, the Dow Jones Industrial Average rose 0.39 percent, and the Nasdaq 100 Index dropped 1.27 percent. Chip stocks declined amid ongoing concerns about the sustainability of AI demand, even as Intel forecast a sharp short-term increase in third-quarter sales tied to data center demand. President Trump’s new tariff regime on 60 nations and his threat of additional EU tariffs also weighed on sentiment, while WTI crude oil prices fell 3 percent as oil shipments continued through the Red Sea despite Houthi threats. On the bullish side, the 10-year Treasury note yield fell 1.4 basis points, and software stocks rebounded, with Atlassian closing up more than 8 percent, ServiceNow up more than 7 percent, and Adobe up more than 6 percent.

Impact on stocks 18

Artificial Intelligence▲ · 8 stocks
ServiceNow Inc
NOW
▲ PositiveDemandrelevance

Software stocks rebounded, with ServiceNow up more than 7%.

Cloud & Digital Infrastructure▲ · 4 stocks
Atlassian Corp Plc
TEAM
▲ PositiveDemandrelevance

Software stocks rebounded, with Atlassian closing up more than 8%.

Semiconductors▲ · 3 stocks
Intel Corporation
INTC
▲ PositiveDemandrelevance

Intel forecast a sharp short-term increase in third-quarter sales tied to data center demand.

Communication Services▲ · 1 stocks
Critical Materials & Supply Chain▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
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