EL7.AI
StocksMediumUpdated×2•Originally published 16 July 2026•Updated 17 July 2026•
1 min read

Nasdaq Selloff Deepens as Futures Slide on Rising AI Investment Skepticism

Key Facts

1The Nasdaq fell sharply as a slump in chip stocks, led by Micron, weighed on the index.
2TSMC reported record profits, but the results were overshadowed by a broader selloff in the semiconductor sector.
3UnitedHealth shares gained on strong earnings, while SpaceX fell below its IPO price.

As market sentiment toward the tech sector undergoes a sharp pivot, a drop in Nasdaq futures indicates that the selling pressure is likely to persist and deepen into the upcoming session. According to reports, investor skepticism is rising regarding the long-term viability of massive investments in AI infrastructure, overshadowing individual fundamental successes and extending the rout across the semiconductor landscape.

The ongoing slide follows a volatile session where Micron (MU) traded at $845.51 and TSMC (TSM) ended at $405.67 on July 16, 2026, per market data. While TSMC's record earnings initially provided a buffer, the broader rotation out of high-valuation chip stocks has intensified. In contrast, defensive positioning was evident in UnitedHealth (UNH), which closed at $431.18 on the same date, offering a slight counterbalance to the tech-heavy index's decline.

Investors should closely monitor Nasdaq's opening levels, as the weakness in futures suggests a testing of key support zones. With the economic calendar showing no major US catalysts in the next week, market direction will likely be dictated by upcoming corporate earnings reports and any further shifts in capital expenditure guidance from the leaders of the AI hardware cycle.