Nasdaq Falls as Chip Stocks Drop on China Chipmaking Report

TLDR

• The Nasdaq fell 0.5% and S&P 500 slipped as chip stocks sold off sharply
• A report that a Chinese state-backed firm began mass-producing chipmaking equipment rattled investors
• Nvidia and ASML dropped over 4% on the China competition news
• Oil prices fell over 5% after the US and Iran paused fighting
• The Federal Reserve meets Wednesday with a rate decision that could go either way

Chip stocks led a sharp pullback in US markets on Monday as a fresh report about Chinese competition in semiconductor manufacturing rattled investors heading into the busiest week of the quarter.

Oh shit

The information: China Starts Mass-Producing Homegrown DUV Chipmaking Tools, An Advance for Local Chip Industry A Chinese state-backed company has begun manufacturing one of the key pieces of equipment used in chip manufacturing for the first time, a key development in… pic.twitter.com/YTALg1hHfh

- Jukan (@jukan05) July 27, 2026

The Nasdaq Composite fell 0.5% and the S&P 500 slipped around 0.1% after both indexes started the day higher. The Dow Jones Industrial Average held on to gains, rising about 0.5%.

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