AI-boom jitters sink chips, Intel -9.7%

Today's Market

The S&P 500 -0.5%, Nasdaq -1.2%, and Dow -0.2% closed lower on the 7th (local time). A semiconductor sell-off met a risk-off tape and an oil spike.

• The semiconductor sector (-5.1%) led the Nasdaq's decline, with VIX +3.6% (16.13) signaling risk aversion

• Oil surged +5.5%, adding to the risk-off mood

• Next week's bank earnings (JPMorgan et al.) and CPI are the next directional gauge

Market Data

S&P 500

7,503.85

▼0.45%

NASDAQ

25,818.69

▼1.16%

DOW

52,925.15

▼0.25%

VIX

16.13

▲3.60%

Sector Heat Map

SPY benchmark + 11 GICS sectors · 1-day

S&P 500 SPY −0.48%	Technology XLK −2.39%	Comm. Svcs XLC +0.73%	Cons. Discr. XLY −0.53%
Cons. Staples XLP +0.90%	Energy XLE +2.84%	Financials XLF −0.16%	Health Care XLV +1.53%
Industrials XLI −1.71%	Materials XLB −0.90%	Real Estate XLRE +1.35%	Utilities XLU +0.88%

In Focus

A chip-led risk-off session ⚡

Fears the AI boom may stall — plus AI-chip competition — hammered semiconductors

• Samsung's strong profit guidance still saw its shares slump on fears the AI boom may stall, dragging global chips lower — Intel -9.7%, Marvell -7.5%, AMD -6.5% (sector -5.1%)

• A report that DeepSeek is designing its own AI chip dented sentiment toward Nvidia and AI-chip names

• The counterpoint: JPMorgan's Matejka calls the chip pullback a buying opportunity — views diverge

Oil +5.5%, Hormuz supply risk 🛢️

A tanker strike in the Strait of Hormuz revived crude supply fears

• Reports of a tanker hit in the Strait of Hormuz drove the oil spike and put Mideast geopolitics back in focus

• The supply-disruption fears deepened the sell-off

This Week

ALL TIMES EASTERN (ET)

• Tue 7/7 Trade Balance

• Tue 7/14 JPM earnings | EPS est $5.59

• Tue 7/14 BAC earnings | EPS est $1.10

• Tue 7/14 GS earnings | EPS est $13.95

• Tue 7/14 CPI

For informational purposes only. Not investment advice. All investment decisions are your own responsibility.

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