--- title: "Midday Markets: Dow Jumps Nearly 400 Points as Chip Stocks Rout Drags Nasdaq Down Over 1%" type: "News" locale: "en" url: "https://longbridge.com/en/news/294100961.md" description: "The Dow surged nearly 400 points, powered by Coca-Cola's 7%+ record rally, while a semiconductor bloodbath dragged the Nasdaq down more than 1%, led by Micron's 12%+ plunge." datetime: "2026-07-28T18:22:55.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294100961.md) - [en](https://longbridge.com/en/news/294100961.md) - [zh-HK](https://longbridge.com/zh-HK/news/294100961.md) generator: "portal-rs" --- # Midday Markets: Dow Jumps Nearly 400 Points as Chip Stocks Rout Drags Nasdaq Down Over 1% U.S. stocks traded mixed on July 28, with major indices sharply diverging. The Dow Jones Industrial Average surged nearly **400** points, lifted by stronger-than-expected earnings from blue-chip consumer names including Coca-Cola. The S&P 500 hovered near flat, while the Nasdaq Composite fell more than **1%**, as a broad-based semiconductor sell-off crushed tech sentiment. Semiconductor stocks faced intense selling pressure, with Micron and Intel leading the sector lower, while Nvidia extended its losing streak. Consumer staples bucked the trend, with Coca-Cola soaring over **7%** to an all-time high following an earnings beat. Tech mega-caps were mixed: Microsoft rose over **2%** on analyst bullishness, while Apple traded near record highs. **Semiconductor Sector Crushed — Micron Tumbles 12%+, Intel Slumps 9%+** At midday, Micron Technology (MU) had plunged more than **12%**, Intel (INTC) slumped over **9%**, and Nvidia (NVDA) shed roughly **3%**, bringing its two-day loss to approximately **6%**. AMD also traded lower in sympathy. On the news front, Nvidia's five-year credit default swap (CDS) spiked to an all-time high of **82** basis points, stoking market concerns over the debt implications of the massive financing guarantees it has extended to OpenAI and SK Group. Nvidia's market cap has evaporated by roughly **$250 billion**, surrendering its crown as the world's most valuable company to Apple. Adding to the pressure on chip stocks, Alphabet's recent sharp upward revision to its 2026 capital expenditure forecast has fueled skepticism about AI investment returns. Prediction market data now shows traders pricing in an **18%** probability of an AI bubble bursting by 2026. **Consumer Blue Chips Defy Sell-Off — Coca-Cola Jumps 7%+ to Record High** Coca-Cola (KO) surged more than **7%** to a record high, contributing roughly **350** points to the Dow's advance. The beverage giant reported Q2 earnings of **97** cents per share, comfortably beating the **93**-cent analyst consensus. Net revenue rose **7%** year-over-year to **$13.4 billion**, and the company raised its full-year guidance for the second time. Barclays, UBS, Citigroup, and Bank of America all lifted their Coca-Cola price targets, maintaining an upbeat outlook on the company's pricing strategy and earnings trajectory. **Tech Titans Mixed — Microsoft Gains 2%+, Apple Nears Record** Microsoft (MSFT) advanced **2.45%** to **$398.63**, with Citizens Securities analyst Patrick Walravens reiterating an Outperform rating and a **$550** price target. Investors are closely watching the company's upcoming Q4 earnings, with Azure growth and Copilot adoption rates serving as key catalysts. Apple (AAPL) traded near its all-time high, as investors sought certainty ahead of the company's Q3 results, favoring its stable subscription revenue stream and relatively modest AI spending. Apple also announced a partnership with Klarna to launch a device leasing program covering iPhone, Watch, iPad, and Mac. Meta (META) saw modest fluctuations ahead of its Q2 report due Wednesday; analysts project revenue of **$60.22 billion** and earnings per share of **$7.14**. In other news, TSMC (TSM) is gradually resuming operations at its Kumamoto plant in Japan following the recent earthquake, with the company confirming employee safety, structural integrity, and no disruption to ongoing construction. Starbucks (SBUX) is set to report Q3 earnings on July 29, with analysts forecasting revenue of **$9.1 billion** and EPS of **$0.65**; the stock is up **23%** year-to-date. Tesla (TSLA) saw notably bearish options activity, while BYD confirmed its first humanoid robot will be unveiled in August, intensifying competitive expectations in the humanoid robotics space. ### Related Stocks - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [KO.US](https://longbridge.com/en/quote/KO.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [TSM.US](https://longbridge.com/en/quote/TSM.US.md) - [SBUX.US](https://longbridge.com/en/quote/SBUX.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) ## Related News & Research - [Meta joins a list of corporations that have settled cases for billions of dollars](https://longbridge.com/en/news/297075086.md) - [Meta Platforms Is Now 1 of Microsoft’s Biggest Customers. 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