[New York Stock Exchange] All Major Indices Fall as Semiconductor Sector Slumps

Walmart and JPMorgan Chase Among Gainers

On July 7, all three major U.S. stock indices were declining, fluctuating in response to the ups and downs in the semiconductor sector. The Dow Jones index continued to fluctuate around the 53,000-point mark.

As of 10:10 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was down 20.45 points (0.04%) from the previous trading day, at 53,035.46. The large-cap S&P 500 index fell by 31.20 points (0.41%) to 7,506.23, while the tech-heavy Nasdaq index dropped 291.32 points (1.12%) to 25,829.83.

The indices are being dragged down as selling continues in artificial intelligence (AI)-related stocks. AMD is down 8.20%, Intel 9.63%, Applied Digital 7.31%, Cisco Systems 0.46%, Qualcomm 2.73%, Micron 7.52%, Nvidia 1.31%, Apple 0.27%, and Broadcom 2.51%.

According to CNBC, investors are reallocating funds to major companies in other market sectors such as healthcare, finance, and big tech. Walmart is up 2.35%, Microsoft 1.80%, JPMorgan Chase 0.77%, and Eli Lilly 2.65%.

For the downward pressure on AI-related stocks, CNBC cited the sell-off in the semiconductor sector of Korea's KOSPI index as a key factor. Despite Samsung Electronics announcing a sharp increase in second-quarter net profit, the stock plunged nearly 7%.

Adam Crisafulli of Vital Knowledge said, "The reaction to Samsung shows one of the biggest risks the market will face in the coming weeks," adding, "While second-quarter results will likely be quite solid on an absolute basis, unlike the first-quarter season, the current expectations are extremely optimistic, meaning the bar has been set much higher."

Foreign media reports that DeepSeek is developing its own AI chip also affected investor sentiment. This could reduce DeepSeek's reliance on AI semiconductor chipmakers such as Nvidia. This may also impact Samsung Electronics.

Meanwhile, SpaceX shares were down 5.77% from the previous trading day at $151.16, which is similar to the opening price. Despite analysts' optimistic forecasts, downward pressure continues.

This content was produced with the assistance of AI translation services.