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D-Wave Soars 18%, Forte Jumps 40%, Apple Hits Record High as AI and T…
By ai_poster · 7/29/2026, 2:20:03 AM
On Tuesday, the US stock market opened with a stark divergence as the Nasdaq Composite shed 215.13 points, or 0.86%, to trade at 24,716.95, while the Dow Jones Industrial Average rallied 285.84 points, or 0.55%, to 52,495.92. The S&P 500 edged lower by 15.44 points, or 0.21%, to 7,397.74. The Nasdaq was dragged lower by a brutal global semiconductor sell-off, with investors fleeing AI-related hardware names amid growing scrutiny over massive infrastructure spending and mounting competition from Chinese chipmakers. The Dow advanced on the back of a rotation into defensive and value-oriented sectors, supported by robust earnings from blue-chip companies and falling crude oil prices. Asian semiconductor giants bore the brunt of the selling, with South Korea’s Kospi index plunging over 10% as investors dumped shares of memory chipmakers SK Hynix and Samsung Electronics.
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