US stocks fall on Wednesday as the Dow drops about 800 points and chipmakers come under pressure

The main US stock indices fell on Wednesday, 29 July 2026 (7 Mordad 1405). The Dow Jones dropped about 800 points during the session, while the S&P 500 and the Nasdaq were also lower. Trading Economics data the same day showed the Dow down 1.7% at 51,837, the S&P 500 down 1.1% at 7,345 and the Nasdaq 100 down 1.8% at 27,272. The VIX volatility index stood at 20.16.

The heaviest pressure was on chipmakers: Micron, Applied Materials and SanDisk fell between 4% and 8% after weak results from SK Hynix. Concern that spending on artificial intelligence infrastructure is being overdone has weighed on the largest technology companies in recent weeks. Microsoft and Meta, both due to report earnings after Wednesday's close, were down about half a percent beforehand.

Two further factors weighed on the market: the wait for the Federal Reserve's rate decision the same day, and a fresh jump in oil prices after the escalation of hostilities in the region, which raises inflation risk and has lifted bond yields.