Chip stocks slide a fourth day as Korea's KOSPI crashes 10.8%

The Nasdaq 100 fell 0.98% to 27,763 while the Dow rose 1.03% to 52,752; oil dropped $3.35 to $79.26 on US–Iran talks, all ahead of Wednesday's Fed decision.

Deepakshi

Kristal Research & Marketing team

29 Jul2 min

Key takeaways — AI summary

US stocks split three ways Tuesday: the Dow rose 1.03% to 52,752 and the S&P 500 gained 0.2% to 7,429, but the tech-heavy Nasdaq 100 fell 0.98% to 27,763 as semiconductors dropped for a fourth straight day.
Korea's KOSPI closed down 10.8% at 6,023 — triggering circuit breakers — with SK Hynix falling about 9% after record revenue but softer-than-expected profit; US chip losers included Sandisk -12.72%, Corning -12.49% and Micron -8.71%.
Money rotated into defensives: Coca-Cola rose 4.87% on raised guidance and Apple gained 0.73% to touch $5 trillion in market value, while Health Care, Staples and Materials led.
US crude tumbled $3.35 to $79.26 a barrel on reports the US and Iran are close to reviving an agreement plus Iranian flexibility over the Strait of Hormuz; the 10-year Treasury yield eased about 5bp to 4.60% and a $44bn 7-year auction drew average demand.
The Federal Reserve's rate decision lands Wednesday, with rates widely expected to hold at 3.50–3.75% though a hike is described as genuinely live.

Generated by Kristal AI · reviewed by the research desk

The full newsletter

Related research

Kristal PulseNew

US stocks slip as oil jumps 2.75% and a Fed rate hike stays on the table

The S&P 500 eased 0.18% to 7,710 and the Nasdaq fell 0.39% to 29,373 as crude rose to $77.29 on Middle East tension, while resilient jobs data and a September hike report lifted the 10-year yield to 4.67%.

Deepakshi7 Aug2 min

Kristal Pulse

Alphabet AI talent exodus and weak jobs data pull US stocks mixed

Nasdaq 100 fell 0.83% to 29,488 as Alphabet dropped 4% on staff departures, ADP showed just 44,000 July jobs, and gold climbed to $4,264

Deepakshi6 Aug2 min

Kristal Pulse

AI trade roars back to lift S&P 500 to a record 7,737 as oil tumbles 5.7%

The Nasdaq jumped 3.3% to 29,733 on broad tech strength while US crude fell to $75.77 on a US-Iran deal to reopen the Strait of Hormuz.

Deepakshi5 Aug