US chip stocks plunged late at night: SanDisk dropped more than 8%, Chinese concept stocks broadly fell, Apple rebounded up nearly 3%, and gold and silver rose in the short term



On July 24 during US stock trading, the three major US indices still moved in different directions. As of 23:00, the Dow Jones rose 0.34%, the Nasdaq Composite fell 0.36%, and the S&P 500 rose 0.26%.

The Philadelphia Semiconductor Index opened lower and kept sliding, now down 3.47%. Semiconductor and memory chip stocks all fell sharply: SanDisk down more than 8%, Marvell Technology and SK hynix down more than 6%, Micron Technology and Western Digital down more than 5%, ARM and Seagate Technology down more than 4%, and onsemi, Intel, Texas Instruments, Broadcom, among others, also declined.

Popular Chinese concept stocks performed poorly: NIO, XPeng, and Pony.ai fell more than 2%; Li Auto, Kingsoft Cloud, Alibaba, and Baidu Group fell more than 1%.

In tech stocks, Apple opened higher and kept rising, up nearly 3%, to $330.76 per share; Microsoft, Google, Nvidia, and Meta were all higher.

Gold and silver rose in the short term: spot gold up 0.59%, at $4,073.07 per ounce; spot silver up more than 2%, at $58.768 per ounce.

On the news front, according to CCTV News, the US Treasury announced new sanctions on Iran, involving four individuals and nine companies, including a company in Turkey and two companies in the UAE.
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