US Stock Market Trends丨Chip Stocks Hit by Selling, Dow Drops Nearly 200 Points

Chip stocks were sold off, dragging the Dow down nearly 200 points.

As of 11:08 p.m. local time in Hong Kong, the Dow was at 52,874 points, down 180 points, or 0.34%; the S&P 500 was at 7,491 points, down 45 points, or 0.61%; and the Nasdaq was at 25,763 points, down 357 points, or 1.37%.

South Korea’s Samsung Electronics preliminarily recorded an operating profit of 89.4 trillion won (about US$58 billion) in the second quarter, surging 19-fold year over year, setting a record high for the company and far exceeding analysts’ average expectation of 84.2 trillion won. The figure was also higher than full-year performance in 2025. However, the results failed to further boost market confidence.

Market participants said that after nearly a year of sharp gains in AI-related stocks, investors have started to reassess whether semiconductor valuations are too high and whether spending on AI infrastructure running into the hundreds of billions of dollars can be sustained long term. This has led to heightened volatility in chip stocks, and some funds have also started to move into technology sectors and other industries that had previously lagged.

In European markets, the UK’s FTSE 100 was at 10,688 points, up 36 points, or 0.34%; Germany’s DAX was at 25,492 points, down 325 points, or 1.26%; France’s CAC 40 was at 8,460 points, down 19 points, or 0.23%; and Italy’s FTSE MIB was at 52,590 points, down 360 points, or 0.68%.