Nasdaq Declines 1.16% on July 8 as AI Stock Profit-Taking Hits Semiconductor Sector

According to industry data center, U.S. stock markets declined on Tuesday, July 8, with the Nasdaq falling 1.16% to 25,818.69 as profit-taking pressure emerged following gains in AI-related equities. The S&P 500 dropped 0.45% to 7,503.85, while the Dow Jones Industrial Average fell 0.25% to 52,925.15.

The semiconductor sector bore the brunt of losses, with the Philadelphia Semiconductor Index plunging 4.65%. Memory chip stocks led declines, including Micron Technology down 4.7% and SanDisk down 7.3%, as investors reassess whether current valuations reflect sufficient growth potential in AI data center demand.