Story perspectives

US Chip Stocks Slide, Micron Drops 9% Over AI Risks

7/29/2026

Summary

Story summary

U.S. semiconductor stocks tumbled, with Micron down over 9% and AMD and Intel falling more than 5%.
The Philadelphia Semiconductor Index slid about 2% while the Nasdaq 100 fell 1.8%.
Asian benchmarks dropped about 4% as the MSCI AC Asia Pacific Index moved toward a technical correction.
Analysts Dilin Wu (Pepperstone) and Daniel Murray (EFG) said investors are repricing AI spending risks and Chinese competition before Microsoft, Meta and Amazon earnings.

History

Historical Context

The 2018 trade-war rollout, when the Trump administration announced $50 billion of Section 301 tariffs and the Dow fell 724 points, triggered a sharp sell-off in tech stocks. A new Section 232 probe led to a 25 % tariff on advanced Chinese chips announced in January 2026. Today’s drops in Micron, AMD and Intel echo those earlier policy-driven corrections.

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Story summary

U.S. semiconductor stocks tumbled, with Micron down over 9% and AMD and Intel falling more than 5%.
The Philadelphia Semiconductor Index slid about 2% while the Nasdaq 100 fell 1.8%.
Asian benchmarks dropped about 4% as the MSCI AC Asia Pacific Index moved toward a technical correction.
Analysts Dilin Wu (Pepperstone) and Daniel Murray (EFG) said investors are repricing AI spending risks and Chinese competition before Microsoft, Meta and Amazon earnings.

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