28.07.202620:13:28UTC+00US Stocks Mixed as Chip Selloff Deepens

US equity markets ended Tuesday’s session mixed as renewed pressure on chipmakers contrasted with support from earnings and lower oil prices. The S&P 500 added 0.2%, the Dow Jones advanced 537 points, while the Nasdaq 100 declined 1%. Shares of compute and memory chipmakers came under heavy selling pressure amid mounting worries about a slowdown in AI infrastructure spending and concerns over the inherently cyclical nature of data center investment. Micron dropped 8.8%, AMD slid 8.1%, Intel fell 5.9%, and Sandisk plunged 14.2%. Sentiment toward the sector was further undermined by the strong IPO of China’s CXMT in Shanghai, which heightened expectations of increased competitive pressure.

In contrast, defensive sectors such as healthcare and consumer staples outperformed. Microsoft gained 1.1%, while Meta finished little changed ahead of its earnings release on Wednesday. Coca-Cola jumped 5% after reporting better-than-expected earnings and revenue and raising its full-year guidance. Among other notable movers, Eli Lilly climbed 1.9%, Berkshire Hathaway advanced 3.1%, and Visa rose 1.1% ahead of its upcoming results.