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The S&P 500 fell 1% on Friday, July 17, 2026, logging its first losing week in three as a tech selloff deepened. The VIX climbed 1.6 points to over 18, reflecting increased market fear, while Nasdaq 100 futures slumped 1.6%. Nvidia dropped 2.2% before recovering.
South Korea's stock market, driven by AI-related volatility in Samsung and SK Hynix, now serves as a leading indicator for global markets. Fund managers in London, New York, and Tokyo check Korean stocks before trading begins.
The Nasdaq Composite dropped 1.40% on Friday, July 17, 2026, as a selloff in semiconductor shares broadened. The S&P 500 fell 1.01% and the Dow declined 0.77%. Intuitive Surgical posted the biggest loss among U.S. stocks.
Fundstrat's Tom Lee argues that the recent stock market selloff, driven by AI chip stocks and margin calls, is a healthy correction and that AI-related stocks will rebound later this year. He cites historical patterns and notes that leverage is amplifying volatility but expects the trade to continue.
The PHLX Semiconductor Index closed in a bear market on Friday, finishing more than 20% below its June peak. Meanwhile, Apple touched a record intraday high of $334.98, reclaiming its title as the world's most valuable company at about $4.9 trillion.
Sandisk shares have soared over 500% in 2026 after securing a long-term supply agreement with Meta Platforms for flash storage used in AI data centers. Meta plans to launch a new in-house AI chip in September and double its AI compute capacity to 14 GW by 2027.
The Dow Jones Industrial Average dropped nearly 300 points (0.6%) on Friday, with Coca-Cola and IBM as the biggest decliners. The decline comes amid a global semiconductor selloff, capping the Dow's worst week since March.
U.S. stock futures fell on Friday, with Nasdaq 100 futures down 2.2% and S&P 500 futures down 1%, as a selloff in semiconductor stocks deepened. The Philadelphia Semiconductor Index (SOX) fell into a bear market, dropping 4.8% and bringing its drawdown from a late June record high to over 20%.
This commentary argues that Warren Buffett's long-held view of market downturns as buying opportunities is particularly relevant amid current tariff uncertainty, Iran conflict, and AI spending concerns. It contends that investors should see bad news as a chance to buy quality stocks at lower prices, rather than reacting impulsively.
Semiconductor stocks pared losses on Friday as investors bought the dip, with AMD, Broadcom, Intel, and Marvell turning positive in afternoon trading. However, Applied Materials and Lam Research each declined more than 3%.