- Falling semiconductor stocks are dragging both the Nasdaq 100 and the S&P 500 lower.
- Big Tech and software companies are outperforming AI infrastructure giants in today's session.
- Oil prices are up more than 3%, supporting the U.S. dollar, while precious metals are trading lower.
- The latest ADP report showed U.S. private-sector employment increased by 21,000 jobs, down from the previous gain of 30,750.
- Falling semiconductor stocks are dragging both the Nasdaq 100 and the S&P 500 lower.
- Big Tech and software companies are outperforming AI infrastructure giants in today's session.
- Oil prices are up more than 3%, supporting the U.S. dollar, while precious metals are trading lower.
- The latest ADP report showed U.S. private-sector employment increased by 21,000 jobs, down from the previous gain of 30,750.
Following declines across Asian markets, where Japan’s Nikkei fell more than 2% and South Korea’s KOSPI dropped nearly 5%, as well as weakness in Europe, with the DAX and Euro Stoxx 50 down around 1.3%, Wall Street indices are under pressure from a selloff in semiconductor and AI infrastructure stocks. Some names have recovered from their initial steep losses, with Nvidia turning positive and gaining more than 1% after falling nearly 2% at the start of the U.S. session.
- Despite positive comments from JPMorgan, Citi, and Bank of America, which maintain SpaceX price targets well above $200 per share, the stock is down nearly 5.5% today after its debut in the prestigious Nasdaq index. Shares of Musk’s space business have retreated close to their June 12, 2026 opening price.
- European equities ended the session in negative territory. Germany’s DAX and the Euro Stoxx 50 both lost around 1.3%, following the earlier selloff in Asia, where South Korea’s KOSPI fell nearly 5%.
- The selloff in U.S. equities was partly driven by Reuters reports that Chinese startup DeepSeek is developing its own AI chip, which could, over the longer term, reduce its reliance on Nvidia and Huawei processors and increase competition in the AI accelerator market.
- Another source of weakness was the market reaction to Samsung’s earnings. Despite reporting a record 19-fold increase in operating profit, the company failed to provide fresh arguments for another leg higher in AI-related stock valuations.
- Samsung released only preliminary results and did not provide detailed guidance for its semiconductor division, leaving investors with unanswered questions about the durability of the current AI investment boom.
- After the sector’s powerful rally, some investors chose to take profits amid concerns over elevated valuations and the prospect of greater volatility ahead of the upcoming earnings season.
- Sentiment is also being shaped by preparations for SK Hynix’s Nasdaq debut and by expectations for the release of minutes from the first Fed meeting chaired by Kevin Warsh, encouraging some investors to reduce risk exposure.
- Despite the current correction, analysts stress that it does not signal a collapse in demand for AI infrastructure, but rather a reassessment of valuations and expectations for companies that have been among the biggest beneficiaries of the artificial intelligence boom in recent quarters.
- At the same time, German macroeconomic data surprised to the upside. Seasonally adjusted industrial production rose 0.11% year-over-year, compared with market expectations for a 0.6% decline and a previous reading of -0.54%. On a monthly basis, industrial production increased by 0.9%, well above the 0.1% consensus and the previous 0.4% reading.
- Silver is down nearly 2%, while gold has pulled back 0.6% as U.S. Dollar Index futures (USDIDX) rebound after Brent crude futures gained more than 3% on renewed tensions between the U.S. and Qatar on one side and Iran on the other. The main concerns were triggered by damage to a Qatari LNG tanker and a Saudi oil supertanker off the coast of Oman, although no casualties or commodity leaks have been reported.
- Qatar accused Iran of violating international law and threatening global energy supplies, while Tehran has not admitted responsibility for the attacks, though it had previously warned vessels against using certain routes. The market is not yet pricing in a lasting disruption to supply, but any further escalation in the Strait of Hormuz could quickly lift the geopolitical risk premium in oil and gas prices
Source: xStation5
US30 chart (D1 interval)
The Dow Jones Industrial Average futures contract continues to significantly outperform the technology-heavy Nasdaq. After reaching a new all-time high near 53,500 points, the index is down only around 0.5% today.
Source: xStation5
Tesla (TSLA.US) chart (D1 interval)
Tesla shares are down more than 3% today and are testing the 200-day exponential moving average (red line). Selling pressure has been testing buyers' conviction for some time. A break below $400 could increase the probability of a move toward the next major support area near $330 per share.
Source: xStation5
Nasdaq selloff 🚩 DeepSeek and Samsung earnings reaction sink semiconductor stocks
📈 OIL gains 2%
US Open: US100 loses 1% as semiconductors retreat 📉 BigTech stocks and DJIA gain
Chart of the Day: Will SpaceX inclusion in the Nasdaq 100 bring a new wave of growth? (07.07.2026)
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
