The Nasdaq Composite surged approximately 1.1-1.2% on July 9, clawing back losses that had dogged the tech-heavy index since the start of the month. After a rough opening stretch to July that saw back-to-back declines, the index staged a decisive late-session rally powered by the same semiconductor stocks that had been dragging it down.
The S&P 500 followed with a roughly 0.8% gain, while the Dow added a more modest 0.3-0.4%.
Chips fall down, chips get back up
The Nasdaq dropped 0.66% on July 1, closing at 26,040.03. Then it fell another 1.16% on July 7, landing at 25,818.69 as concerns about AI chip performance intensified.
Micron Technology was the poster child for the volatility, dropping more than 10% in a single trading session during the selloff.
