S&P 500 Posts First July Decline Since 2014 Amid Tech Stock Selloff
The S&P 500 closed with its first monthly decline in July since 2014, driven by a sharp selloff in semiconductor and technology stocks. The iShares Semiconductor ETF (SOXX) fell 22.1% for the month — the worst performance since December 2002 — despite strong gains from Microsoft's earnings report early on. Apple’s disappointing results late in July further pressured tech shares, including a 7.4% drop in AAPL and an overall 8% decline in the XLK ETF. Despite these losses, several of the hardest-hit stocks for July were still up significantly year-to-date due to strong performance earlier this year. For example, Sandisk (SNDK) fell 46.6% but was still up over 400% in 2026. Similarly, Micron Technology (MU), Intel (INTC), and Marvell Technology (MRVL) all posted double-digit monthly declines yet remained strong for the year. The S&P 500’s overall decline of roughly 1%, following a similar drop in June, highlights growing investor concerns about earnings momentum and macroeconomic conditions. While some tech stocks like Microsoft helped offset losses early on, late-month volatility underscored broader uncertainty.
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Topics: S&P 500 semiconductors stock selloff technology sector