How AI Fears Drove Semiconductor Bear Market and Nasdaq’s 2.9% Drop — Market Wrap Jul 18, 2026

7horns.ai Daily Briefing EN · Jul 18, 2026 · 3m

Today's AI insights from 7horns.ai reveal a sharp tech-led market pullback as the Nasdaq fell 2.9% for the week, marking the first losing streak in three weeks. The S&P 500 dropped 1.6%, while the Dow slipped 0.9%. The Philadelphia Semiconductor Index officially entered bear market territory, down over 20% from its late-June high, triggered by concerns over AI infrastructure spending after China’s Moonshot AI lab released a powerful new open-source model. Mega-cap tech stocks bore the brunt, with Meta sliding 2.8%, Tesla down 2.6%, and Nvidia falling 2.2%. Apple bucked the trend, rising…