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Nasdaq and S&P 500 Slide as Chip Selloff Drives Rotation Into Defensives
NEWSJUL 7, 2026
Nasdaq and S&P 500 Slide as Chip Selloff Drives Rotation Into Defensives
Semiconductor weakness kept pressure on major U.S. equity benchmarks as traders moved money into healthcare, consumer staples and financials. SK Hynix’s upcoming Nasdaq debut is shaping up as a fresh test of investor appetite for chip exposure at elevated valuations.