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Wall Street's AI darlings had a tough day, but you wouldn't guess it looking at the three major indexes at the the closing bell. The Nasdaq ended the trading day 0.6% higher. The PHLX Semiconductor Index ended the session lower with some memory names that are the market's top gainers year to date seeing more significant losses.

Chip stocks are on the move, inching higher to shake off some recent losses. The PHLX Semiconductor Index is up 1.3%, with 27 of its 30 stocks in the green despite the broader market sell-off fueled by a reignited U.

Savita Subramanian, head of U.S. equity and quantitative strategy for BofA, doesn’t see “any reason to continue to buy Magnificent Seven or megacap tech stocks that are the capex spenders.”

After weeks of large-scale alarms that turned out to be false starts, equities finally found a real problem — the one they spent two years celebrating.

A selloff of large technology stocks sent the Nasdaq reeling, but the Dow managed to weather the storm. The Dow rose 163 points, or 0.3%. The Nasdaq fell 1.3%. The S&P 500 fell 0.4%, even though breadth was solid for much of the afternoon.

The Nasdaq kept falling on Monday after Alphabet’s sharp drop bled into other large technology stocks. The S&P 500 was down 0.3%, even though a majority of stocks and sectors in the index were rising. The Dow, which does not include Alphabet, was up 165 points, or 0.3%.

Don’t look now, but the Russell 2000 just hit 3000. It first closed above 2000 on Dec. 23, 2020, according to Dow Jones Market Data. Jeffrey Favuzza, senior vice president of equities trading at Jefferies, pointed out earlier this morning that the Russell was already trading at an 18-month relative high when compared to the Mag 7 after hitting a low in November in 2025.

The Magnificent Seven question facing investors in 2026 is how to own these names. Roundhill Magnificent Seven ETF (NYSEARCA:MAGS) answers with one ticker holding all seven mega caps at equal weight, rebalanced quarterly so no single name dominates. MAGS gathered roughly $4.7 billion in assets because retail investors wanted the basket without picking which AI ... MAGS Bundles the Magnificent Seven Into One Ticker, And That Concentration Cuts Both Ways

For a second day in a row, the Dow crossed 50,000 but couldn’t close it out. The blue-chip index was down 313 points, or 0.6%. The S&P 500 fell 0.4%. The Nasdaq fell 0.1%. The S&P and Nasdaq pulled back from record closing highs from Wednesday.

For the first time in weeks, headlines out of the Middle East are driving the stock market. The Dow dropped 530 points, or 1.1%. The S&P 500 fell 0.5%. The Nasdaq slipped 0.4%. The S&P and Nasdaq are pulling back from closing highs on Friday, while the Dow has yet to recover to its highs from earlier in the year.