A "bear" market for chips sent indices tumbling: U.S. stocks ended the week in the red

The S&P 500 and Nasdaq Composite indices ended their two-week winning streak, while the Dow fell for the second week in a row. The market was affected by a sell-off in software and semiconductor stocks. The Philadelphia Semiconductor Index lost more than 20% from its June high, entering a technical “bear” market, and posted its worst weekly performance since April 2025, when Donald Trump announced the imposition of “reciprocal” trade tariffs, according to the Financial Times. In addition, market sentiment was affected by the launch of a new powerful neural network in China.

— The S&P 500 broad-market indexfell 1.01% on July 17 and closed at 7,457.69 points. For the week, it fell 1.6%.

— The Dow Jones Industrial Average , a "blue-chip" index,fell 0.77% on Friday and closed at 52,146.42 points. For the week, it declined by 0.9%.

— The Nasdaq Composite technology index fell 1.4% over the course of the day, to 25,520.24 points. Over the week, it declined by 2.9%.

— The Russell 2000 Small- and Mid-Cap Indexfell 0.4% over the course of the day, to 2,962.2 points. Over the week, it lost 0.67%.

— Brent crude oil futures rose 4% on Friday to about $88 per barrel, while WTI crude oil futures rose 4.3% to $82.3 per barrel.

This news story is being updated

This article was AI-translated and verified by a human editor