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Stocks•1 July 2026•

1 min read

Chip stocks retreat after Dow hits record high

Key Facts

1The Dow Jones Industrial Average hit a fresh intraday record of 52,742.66 before giving back most of its gains.

2The Dow closed down 13 points, while the S&P 500 fell 0.2% and the Nasdaq Composite lost about 0.7%.

3Nasdaq was pressured as investors took profits in semiconductor stocks after the sector's strong first-half rally.

U.S. equities saw a clear rotation session, with profit-taking in high-flying technology names while the Dow briefly maintained record momentum. The Dow Jones Industrial Average hit an intraday record of 52,742.66 before giving back most of its gains and closing down 13 points. The S&P 500 fell 0.2% and the Nasdaq Composite lost about 0.7%.

Nasdaq came under pressure as investors locked in profits in semiconductor stocks after the sector's strong first-half rally. That weakness showed up across the group: SOXX closed at $604.75 on July 1, 2026, while AMD finished at $580.91, INTC at $139.63 and TSM at $447.65, per market data. Caterpillar also weighed on the Dow, limiting the index's ability to hold its advance.

For NVDA, the latest close was $199.575 on July 1, 2026, with a daily range between $193.45 and $199.85, keeping the stock near the top of that band. Traders will be watching whether the semiconductor pullback extends from here and whether upcoming U.S. economic releases or Fed speakers revive volatility in the broader market.