Wall Street ends lower as chip stocks slide and oil jumps on renewed Middle East tensions
U. S. equities declined again on Friday, sealing weekly losses for the major indices as investors assessed weakness in semiconductor stocks, mixed corporate earnings and renewed geopolitical tensions in the Middle East.
18th July 2026 – (Hong Kong) U. S. equities declined again on Friday, sealing weekly losses for the major indices as investors assessed weakness in semiconductor stocks, mixed corporate earnings and renewed geopolitical tensions in the Middle East. The S&P 500 fell 1. 01 per cent to close at 7,457. 69, while the Nasdaq Composite dropped 1. 4 per cent to 25,520. 24 amid sustained pressure on technology shares. The Dow Jones Industrial Average shed 406. 55 points, or 0. 77 per cent, finishing at 52,146. 42. For the week, the S&P 500 retreated 1. 6 per cent, the Nasdaq slid 2. 9 per cent and the Dow eased 0. 9 per cent. Semiconductor companies were among the heaviest drags on the market, with the VanEck Semiconductor ETF recording its third weekly decline in four weeks, falling nearly 9 per cent over the period. The sector came under renewed strain after Chinese start‑up Moonshot AI introduced a model it claims rivals leading US systems, prompting concerns over intensifying global competition and the sustainability of elevated technology spending. Analysts said the emergence of competitive open‑source platforms in China has unsettled investors already wary of aggressive capital expenditure and increasingly price‑sensitive demand for artificial intelligence services. Beyond chipmakers, Netflix shares dropped more than 7 per cent after its latest outlook did little to reassure investors about the pace of subscriber growth. Meanwhile, escalating hostilities between Washington and Tehran added to market unease. U. S. West Texas Intermediate crude futures rose 4. 5 per cent to settle at 82. 49 dollars a barrel, while Brent crude gained 4. 6 per cent to close at 88. 10 dollars. The advance followed reports of fresh strikes by US forces on Iranian targets and claims from Tehran that it had targeted American military positions in Syria and Bahrain. The renewed conflict has disrupted energy flows through the Strait of Hormuz, a vital corridor for roughly one fifth of global oil shipments, raising fears of prolonged volatility across financial markets.