Nasdaq Drops 1.47% as TSMC's $60 Billion-$64 Billion Spending Plan Hits Tech
Updated
Updated · CNBC · Jul 15
Nasdaq Drops 1.47% as TSMC's $60 Billion-$64 Billion Spending Plan Hits Tech
3 articles · Updated · CNBC · Jul 15
Summary
The selloff deepened by the close, with the S&P 500 falling 0.51% to 7,533.77, the Nasdaq sliding 1.47% to 25,881.95 and the Dow losing 105.67 points.
Taiwan Semiconductor drove much of the weakness after lifting its 2026 capital-spending forecast to $60 billion-$64 billion from $52 billion-$56 billion, sending its shares down more than 2% despite a better-than-expected quarter.
Chip stocks fell broadly with the VanEck Semiconductor ETF down nearly 4%; Arm lost more than 5%, Micron and AMD each dropped more than 5%, Broadcom fell 5% and U.S.-listed SK Hynix sank more than 13%.
Alphabet added to the pressure, dropping more than 4% after a report that it delayed the release of its Gemini 3.5 Pro AI model; Meta, Nvidia and Amazon also finished lower.
The retreat came despite supportive fundamentals: more than 87% of 40 S&P 500 companies reporting so far beat estimates, while jobless claims of 208,000 and 0.2% retail-sales growth pointed to resilient U.S. consumers.