13.07.202613:36:04UTC+00US Stocks Pull Back

US equity indices were mostly lower on Monday amid renewed weakness in AI-related stocks and heightened macroeconomic uncertainty. The S&P 500 slipped 0.3%, while the Nasdaq 100 fell 2%. Semiconductor shares came under fresh pressure, reflecting ongoing doubts over whether the sector can deliver on the ambitious earnings guidance that has fueled its recent speculative rally. SK Hynix ADRs dropped 8% after a 13% surge on Friday, following a warning from a Korean broker that the company could miss its next earnings target. Nvidia, AMD, and Intel each declined more than 1%, while memory makers SanDisk and Micron lost over 3%.

By contrast, the Dow edged slightly higher, even as the prospect of higher interest rates lingered. Ongoing strikes between the US and Iran continued to disrupt energy exports from the Middle East, adding to inflation risks and putting upward pressure on borrowing costs. Major banks traded mixed ahead of earnings due tomorrow, with JPMorgan and Bank of America both hovering near unchanged levels. Visa gained 1.5%, and Johnson & Johnson rose 0.5% in the run-up to its results on Wednesday.