Tech stocks declined amid doubts over the AI/chip boom, despite strong Samsung earnings. U.S. indices fell, while oil prices rose due to supply risks, and precious metals saw varied trading amidst market uncertainty.
By William Collins, consultant in stock markets – Eurasia Business News, July 7, 2026. Article no 3023
Tech stocks fell on July 7, mainly because investors started questioning how sustainable the AI/chip boom really is, even after Samsung posted a huge earnings beat. The selloff was also amplified by profit-taking, crowded positioning in semiconductor names, and weaker Asian tech trading that spilled into U.S. futures.
The S&P 500 (SP500) -0.3%, the Dow (DJI) -0.3%, and the Nasdaq Composite (COMP:IND) -0.7%.
Meanwhile, shortly after arriving in Ankara, Turkey, for the NATO summit, President Donald Trump reportedly renewed his call for the U.S. to acquire Greenland and threatened to withdraw American troops from Europe if NATO allies continue to oppose the proposal.
Oil prices were higher on July 7, 2026, with Brent crude at $72.75 a barrel and U.S. WTI at $69.28 a barrel around 1256 GMT, both up 1.1% on the day. The move was driven by renewed supply-risk concerns after reports of attacks on vessels near the Strait of Hormuz, which raised fears about shipping disruptions.
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Gold was trading around $4,166 to $4,180 per ounce early in the U.S. session, while silver was around $61.36 to $61.57 per ounce.
Precious metals were moving against a backdrop of broader market uncertainty, with investors balancing safe-haven demand against shifting expectations for rates and growth. Gold held up better than silver, which is common when investors are favoring safety over industrial metals exposure.
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© Copyright 2026 – Eurasia Business News. Article no. 3023
