The stock market ended Friday with mixed results as the Nasdaq fell while the Dow and S&P 500 gained, marking a second consecutive week of losses for all three major indexes as semiconductor weakness persisted.
On July 24, the S&P 500 rose 0.1% to 7,411.98, while the Dow Jones Industrial Average climbed 0.5% to 51,947.25, according to Investopedia. The Nasdaq Composite, however, declined 0.6% to finish at 24,975.82, weighed down by steep losses in chip stocks.
For the week, the divergence was starker. The Nasdaq fell 2.1%, the S&P 500 dropped 0.6%, and the Dow slipped 0.4%, marking the second straight week all three indexes closed in the red, according to Investopedia. Prior to the previous week, all three hadn’t closed lower in the same week since June 5.
Chip Stocks Lead the Decline
Semiconductor stocks were the primary driver of the Nasdaq’s weakness. Memory chipmakers Micron Technology and Sandisk were among the biggest decliners in the S&P 500, with shares down 7% and 6% respectively, according to Investopedia. The Roundhill Memory ETF plunged 8.5% as components Sandisk and Micron dropped sharply, while the broader iShares Semiconductor ETF fell about 4.5%.
The PHLX Semiconductor index was down 3% on the day, reversing earlier-week gains that had followed announcements from major chip buyers Alphabet and Tesla about plans to invest heavily in artificial intelligence, Investopedia reported. The semiconductor sector’s recent slide has left it nearly 20% off its June highs, threatening to extend a tough few weeks for the industry amid a broader pullback in the AI trade.
The weakness in chip stocks reflected mounting investor doubts about the sustainability of the AI-driven rally that had powered much of the market’s gains earlier in the year. Intel bucked the trend, surging 4% in premarket trading after reporting earnings that blew past analyst estimates, with adjusted earnings per share of 42 cents on revenue that jumped 15% year-over-year to $16.1 billion, according to Investopedia. However, Intel shares sank 8% by the close despite the strong results, suggesting broader sector concerns overwhelmed individual company performance.
Oil prices fell sharply on Friday, with Brent crude futures dropping 3.9% to $96.78 following a Reuters report that Pakistan was pushing for new U.S.-Iran peace talks. West Texas Intermediate futures fell 3.1% to $89.31. Despite the daily decline, both benchmarks rose about 9.9% and 8.3% respectively for the week, reflecting the volatility driven by Middle East tensions.
The 10-year Treasury yield retreated to around 4.68%, down two basis points from Thursday’s close, after hitting its highest level since January 2025 at nearly 4.72% the previous day amid inflation fears, according to Investopedia. The yield had spiked as gasoline prices moved back above $4 a gallon.
Sources
- Investopedia — July 24, 2026 market close data, index performance, chip stock declines, oil prices, Treasury yields, and weekly performance figures
