Chip Selloff & Rotation Trade
Chip stocks (SOX) in bear market on AI spending concerns and China competition (ASML). Rotation into Dow value names like Coke and Sherwin-Williams. Nasdaq underperforming while Dow hits records. On Tuesday, SOXX fell 5% and DRAM dropped 9%. Key test: whether tech can recover on earnings.
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Updated Jul 29, 2026