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U.S. memory chip stocks plunge, Chinese assets strengthen

2026-07-16·newswire-us-stock-235035
U.S. memory chip stocks plunge, Chinese assets strengthen.

On July 16, local time, the three major U.S. stock indexes collectively closed down. Semiconductor and memory chip stocks fell sharply. The Philadelphia Semiconductor Index fell by more than 4%. Intel, Micron Technology, and Broadcom all fell by more than 5%. SK Hynix fell by more than 13%, and SanDisk fell by more than 12%.

Chinese concept stocks bucked the trend and strengthened, with the Nasdaq China Golden Dragon Index rising 1.79%. On July 16, local time, the three major U.S. stock indexes closed down across the board. The Dow fell 0.20%, the S&P 500 fell 0.51%, and the Nasdaq fell 1.47%. Semiconductor and storage concept stocks fell sharply.

The Philadelphia Semiconductor Index fell by more than 4%. Intel, Micron Technology, and Broadcom all fell by more than 5%. SK Hynix fell by more than 13%, and SanDisk fell by more than 12%. In addition, TSMC fell more than 2%. TSMC announced its second-quarter financial report that day.

The company's second-quarter net profit increased by 77% year-on-year, hitting a record high and exceeding market expectations. However, the market has doubts about whether AI's ultra-large-scale capital expenditures can be sustained.

Analysts believe that despite TSMC’s impressive performance, the market has become more rational from the early enthusiasm for AI. Investors are beginning to scrutinize the high valuations of the semiconductor sector and are worried that investment in ultra-large-scale infrastructure for AI may slow down.

The performance of large technology stocks was divided. Apple and Microsoft rose more than 1%, Tesla fell 0.86%, Amazon fell nearly 2%, Nvidia fell more than 2%, and Google fell more than 4%. In addition, SpaceX's stock price continued to decline, falling more than 3% that day.

The stock has fallen sharply by more than 31% from its high point since its listing in June, and the market continues to question its ultra-high valuation. Chinese concept stocks bucked the trend and strengthened, with the Nasdaq China Golden Dragon Index rising 1.79% and the Wind China Concept Technology Leading Index rising 0.83%.

Among them, Mavericks Electric and Xiaomi Group-ADR rose by more than 5%, while Tencent Music and iQiyi both rose by more than 4%. According to Xinhua News Agency, international oil prices fell slightly on the 16th.

As of the close of the day, the price of light crude oil futures for August delivery on the New York Mercantile Exchange fell 65 cents to close at US$78.95 per barrel, a decrease of 0.82%; the price of London Brent crude oil futures for September delivery fell 72 cents to close at US$84.23 per barrel, a decrease of 0.85%.

As of 5:40 on July 17, Beijing time, London gold fell by 2.03% to US$3977.410 per ounce; COMEX gold futures fell by 1.77% to US$3979.9 per ounce. London silver fell 4.02% to US$55.508 per ounce; COMEX silver futures fell 2.90% to US$55.765 per ounce. Gold prices have been torn between expected fluctuations in interest rates and safe-haven demand.

Analysts believe that although geopolitical conflicts are good for gold's safe-haven properties, rising oil prices have pushed up inflation expectations and uncertainty about the Fed's interest rate hike path have put pressure on gold prices.

The current market expectation is that uncertainty about the Fed's interest rate outlook will remain a key variable in the precious metals market. (

#Stocks #Nvidia #Tesla #Apple #Microsoft

Full text

U.S. memory chip stocks plunge, Chinese assets strengthen

On July 16, local time, the three major U.S. stock indexes collectively closed down. Semiconductor and memory chip stocks fell sharply. The Philadelphia Semiconductor Index fell by more than 4%. Intel, Micron Technology, and Broadcom all fell by more than 5%. SK Hynix fell by more than 13%, and SanDisk fell by more than 12%. Chinese concept stocks bucked the trend and strengthened, with the Nasdaq China Golden Dragon Index rising 1.79%. Chinese concept stocks bucked the trend and strengthened. On July 16, local time, the three major U.S. stock indexes closed down across the board. The Dow fell 0.20%, the S&P 500 fell 0.51%, and the Nasdaq fell 1.47%.

On July 16, local time, the three major U.S. stock indexes collectively closed down. Semiconductor and memory chip stocks fell sharply. The Philadelphia Semiconductor Index fell by more than 4%. Intel, Micron Technology, and Broadcom all fell by more than 5%. SK Hynix fell by more than 13%, and SanDisk fell by more than 12%. Chinese concept stocks bucked the trend and strengthened, with the Nasdaq China Golden Dragon Index rising 1.79%. On July 16, local time, the three major U.S. stock indexes closed down across the board. The Dow fell 0.20%, the S&P 500 fell 0.51%, and the Nasdaq fell 1.47%. Semiconductor and storage concept stocks fell sharply. The Philadelphia Semiconductor Index fell by more than 4%. Intel, Micron Technology, and Broadcom all fell by more than 5%. SK Hynix fell by more than 13%, and SanDisk fell by more than 12%. In addition, TSMC fell more than 2%. TSMC announced its second-quarter financial report that day. The company's second-quarter net profit increased by 77% year-on-year, hitting a record high and exceeding market expectations. However, the market has doubts about whether AI's ultra-large-scale capital expenditures can be sustained. Analysts believe that despite TSMC’s impressive performance, the market has become more rational from the early enthusiasm for AI. Investors are beginning to scrutinize the high valuations of the semiconductor sector and are worried that investment in ultra-large-scale infrastructure for AI may slow down. The performance of large technology stocks was divided. Apple and Microsoft rose more than 1%, Tesla fell 0.86%, Amazon fell nearly 2%, Nvidia fell more than 2%, and Google fell more than 4%. In addition, SpaceX's stock price continued to decline, falling more than 3% that day. The stock has fallen sharply by more than 31% from its high point since its listing in June, and the market continues to question its ultra-high valuation. Chinese concept stocks bucked the trend and strengthened, with the Nasdaq China Golden Dragon Index rising 1.79% and the Wind China Concept Technology Leading Index rising 0.83%. Among them, Mavericks Electric and Xiaomi Group-ADR rose by more than 5%, while Tencent Music and iQiyi both rose by more than 4%. According to Xinhua News Agency, international oil prices fell slightly on the 16th. As of the close of the day, the price of light crude oil futures for August delivery on the New York Mercantile Exchange fell 65 cents to close at US$78.95 per barrel, a decrease of 0.82%; the price of London Brent crude oil futures for September delivery fell 72 cents to close at US$84.23 per barrel, a decrease of 0.85%. As of 5:40 on July 17, Beijing time, London gold fell by 2.03% to US$3977.410 per ounce; COMEX gold futures fell by 1.77% to US$3979.9 per ounce. London silver fell 4.02% to US$55.508 per ounce; COMEX silver futures fell 2.90% to US$55.765 per ounce. Gold prices have been torn between expected fluctuations in interest rates and safe-haven demand. Analysts believe that although geopolitical conflicts are good for gold's safe-haven properties, rising oil prices have pushed up inflation expectations and uncertainty about the Fed's interest rate hike path have put pressure on gold prices. The current market expectation is that uncertainty about the Fed's interest rate outlook will remain a key variable in the precious metals market. (

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