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Nasdaq Falls 1.16% on July 7 as AI Rally Sustainability Concerns Spread

Indices Stocks AI Industry News

2026-07-07 20:43:55

US500-0.06%

According to E Daily, the Nasdaq declined 1.16% to close at 25,818.69 on July 7 (U.S. time), while the S&P 500 fell 0.45% to 7,503.85 and the Dow Jones slipped 0.25%. The Philadelphia Semiconductor Index (SOX) dropped 4.65% as investors rotated out of chip stocks amid doubts over whether artificial intelligence infrastructure investments can justify current valuations. Major semiconductor companies including Micron, AMD, and Marvell Technology recorded significant declines. Market concern intensified after Reuters reported that Chinese AI startup DeepSeek is developing its own AI chips, raising questions about dependence on established semiconductor suppliers.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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