S&P 500 futures steady as chip stocks take a tumble

Via 247wallst.com S&P 500 futures steady as chip stocks take a tumble Chip stocks continue their losing streak as investors eye tech earnings and the Fed's decisions Share Add us on Google by Editorial Team Jul. 28, 2026 Wall Street is keeping a close watch as S&P 500 futures showed little change, but chip stocks are decidedly not staying put.

After enjoying a rally boosted by artificial intelligence mania, these stocks are taking a dive just before the tech earnings bonanza and the Federal Reserve’s next move. The Chip Sector’s Rough Patch A significant retreat hit the sector, with declines ranging from 2% to over 12% for some key players. Intel and Micron were among those hardest hit, while memory-chip makers like SanDisk plummeted as much as 12.

6%. The downturn arrived despite TSMC’s stellar 77% year-over-year profit increase. Advertisement The Philadelphia Semiconductor Index, along with related ETFs like the VanEck Semiconductor ETF (SMH), mirrored the stumble, erasing about $1 trillion in market value.

This comes after a rally that had semiconductor stocks gaining roughly 70% for the year—until now. Market Metrics and Fed Watch The broader market reflected these tremors on July 16, with the S&P 500 slipping by 0.51%, the Nasdaq dropping 1.

47%, and the Dow inching down 0.20%. Investors have their sights set on the Federal Reserve’s meeting set for July 28-29, with a 25-basis-point hike priced in at 35-38%.

Tech giants Microsoft, Meta, Amazon, and Apple are scheduled to report earnings during the week of July 27, 2026. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

TECHNOLOGY S&P 500 futures steady as chip stocks take a tumble Chip stocks continue their losing streak as investors eye tech earnings and the Fed's decisions by Editorial Team Jul. 28, 2026 Share Add us on Google Via 247wallst.com Wall Street is keeping a close watch as S&P 500 futures showed little change, but chip stocks are decidedly not staying put.

After enjoying a rally boosted by artificial intelligence mania, these stocks are taking a dive just before the tech earnings bonanza and the Federal Reserve’s next move. The Chip Sector’s Rough Patch A significant retreat hit the sector, with declines ranging from 2% to over 12% for some key players. Intel and Micron were among those hardest hit, while memory-chip makers like SanDisk plummeted as much as 12.

6%. The downturn arrived despite TSMC’s stellar 77% year-over-year profit increase. Advertisement The Philadelphia Semiconductor Index, along with related ETFs like the VanEck Semiconductor ETF (SMH), mirrored the stumble, erasing about $1 trillion in market value.

This comes after a rally that had semiconductor stocks gaining roughly 70% for the year—until now. Market Metrics and Fed Watch The broader market reflected these tremors on July 16, with the S&P 500 slipping by 0.51%, the Nasdaq dropping 1.

47%, and the Dow inching down 0.20%. Investors have their sights set on the Federal Reserve’s meeting set for July 28-29, with a 25-basis-point hike priced in at 35-38%.

Tech giants Microsoft, Meta, Amazon, and Apple are scheduled to report earnings during the week of July 27, 2026. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.