Dow falls 184 points as chip stocks pull back after record H1

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Cris Tolomia

Wed, July 1, 2026 astatine 9:02 AM CDT 2 min read

U.S. stocks fell Wednesday arsenic semiconductor stocks pulled backmost aft a record-breaking archetypal fractional of the year. Losses were dispersed crossed the large indexes, with the Dow Jones Industrial Average disconnected 184 points, oregon 0.3%, the S&P 500 down 0.4%, and the Nasdaq Composite closing 0.6% lower.

Among notable movers, Nvidia and Broadcom gave backmost astir 3% and 2%, respectively, portion Sandisk tumbled 8% — a pullback that inactive near it much than 850% higher for the archetypal fractional of 2026, according to CNBC. Micron retreated 6%, though its year-to-date beforehand stood astatine astir 277%.

The selloff came arsenic investors took profits connected semiconductor stocks aft a beardown six-month run. Going backmost to its May 2000 launch, the VanEck Semiconductor ETF had ne'er posted a stronger opening six months than the 82% it returned successful the archetypal fractional of 2026.

The large indexes closed retired the archetypal fractional of 2026 with wide gains. For the afloat archetypal half, the S&P 500 added 9.6% and the Nasdaq roseate 12.8%, portion the Dow's 8.9% beforehand was its strongest January-through-June showing successful 5 years. The standout performer among the large benchmarks was the small-cap Russell 2000, which jumped astir 22% — a first-half effect not seen since 1991. Micron, Intel, and Advanced Micro Devices unneurotic saw their combined marketplace capitalization turn by $2 trillion during a historical chip-stock tally successful the 2nd quarter.

On CNBC's "Closing Bell: Overtime," Bespoke Investment Group co-founder Paul Hickey cautioned that spot stocks could beryllium owed for a intermission contempt his longer-term condemnation successful the sector. "Over the agelong term, we inactive similar the semis, but I wouldn't beryllium assertive towards it here," helium said. "So I deliberation successful that respect they've gotten a small bit…extended. So I would possibly instrumentality a breather here."

Traders besides monitored remarks from Federal Reserve Chairman Kevin Warsh, who was speaking astatine a European Central Bank league successful Portugal. Questions astir a imaginable complaint determination astatine the Fed's upcoming gathering went unanswered, though Warsh indicated that terms pressures person moderated compared with conditions astatine the clip of the past FOMC gathering, according to The Wall Street Journal. He besides said that "we've seen that prices are excessively high."

Elsewhere successful markets, U.S. Treasury yields ticked higher, golden fell beneath $4,000 a troy ounce astatine 1 constituent during the session, and lipid prices slipped, with Brent crude trading beneath $73 a barrel.

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