Semis Crack, Oil Spikes, Netflix Stumbles: The Week Wall Street's AI Trade Got Tested
Chips led a broad market slide as the SOX fell over 9% on AI capex jitters and a new Chinese open model, while oil topped $80 on Iran tensions and Netflix dropped 10% on earnings. Next week brings Alphabet, Tesla, and Intel earnings plus an ECB decision ahead of the July 28-29 FOMC meeting.