--- title: "Dow Plunges Over 1,100 Points as Chip Stocks Crash; Micron Tumbles More Than 10%" type: "News" locale: "en" url: "https://longbridge.com/en/news/294256089.md" description: "Fed holds rates steady with three dissents — the most since 2016 — Dow sinks over 1,100 points, semiconductor stocks plunge led by Micron down over 10%." datetime: "2026-07-29T20:24:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294256089.md) - [en](https://longbridge.com/en/news/294256089.md) - [zh-HK](https://longbridge.com/zh-HK/news/294256089.md) generator: "portal-rs" --- # Dow Plunges Over 1,100 Points as Chip Stocks Crash; Micron Tumbles More Than 10% U.S. stocks closed sharply lower on July 29, with all three major indices in the red. The Federal Reserve voted to hold interest rates steady, but internal dissent surged to its highest level since **2016**, while escalating Middle East tensions drove oil prices sharply higher. The Dow Jones Industrial Average tumbled more than **1,100** points, and both the S&P 500 and Nasdaq Composite finished in negative territory. The Nasdaq briefly turned positive intraday before sliding again into the close. On the sector front, semiconductor stocks suffered a broad-based rout: Micron plunged over **10%**, Super Micro Computer sank nearly **10%**, and NVIDIA and Intel each fell more than **3%**. Most mega-cap tech names weakened. After the bell, Meta reported Q2 revenue of **$60.8 billion**, topping Wall Street estimates. Avantor surged more than **15%** to lead the broader market. **Semiconductor Sector Broadly Crumbles — Micron Down Over 10%** At the close, Micron Technology (MU) tumbled **10.07%** to $737.91; Super Micro Computer (SMCI) lost **9.67%** to $25.70; Intel (INTC) fell **5.08%** to $81.92; and NVIDIA (NVDA) dropped **3.55%** to $190.01. SK Hynix ADR (SKHY) slid **2.60%** to $126.79. SK Hynix previously reported earnings that missed expectations, weighing on memory-chip cycle sentiment. Combined with geopolitical concerns from the Middle East and growing dissent within the Fed, capital rotated out of the high-valuation semiconductor space. **Mega-Cap Tech Mostly Lower — Meta Beats After the Close** At the close, Microsoft (MSFT) slipped **0.71%** to $390.54; Apple (AAPL) edged down **0.56%** to $338.19; and Amazon (AMZN) declined **1.82%** to $226.65. ServiceNow (NOW) bucked the trend, rising **4.65%** to $115.76. After the closing bell, Meta reported fiscal Q2 revenue of **$60.8 billion**, exceeding consensus estimates. On the Apple front, the options market is pricing in roughly **$170 billion** in market-cap swing following its upcoming earnings release. **Avantor Surges Over 15% — Crypto-Linked Names Slide** Avantor (AVTR) soared **15.78%** to $14.38. On the flip side, IREN tumbled **13.62%**, Cipher Digital (CIFR) fell **13.39%**, and Nebius (NBIS) shed **12.65%**. **Fed Stands Pat — Three Dissents Mark First Split Since 2016** The Federal Reserve held the federal funds rate target range at **3.50% to 3.75%** at its July meeting, marking the fifth consecutive pause. The vote was **9-to-3**, with regional Fed presidents Hammack, Kashkari, and Logan dissenting in favor of a 25-basis-point hike. Meanwhile, President Trump threatened strikes against Iran, pushing international oil prices up nearly **8%** and spot gold up more than **2%**. **Top 10 by Turnover** NVIDIA (NVDA) $190.01, −3.55%, turnover approx. $27.2B Apple (AAPL) $338.19, −0.56%, turnover approx. $18.7B Microsoft (MSFT) $390.54, −0.71%, turnover approx. $16.1B Intel (INTC) $81.92, −5.08%, turnover approx. $12.0B Amazon (AMZN) $226.65, −1.82%, turnover approx. $9.7B ServiceNow (NOW) $115.76, +4.65%, turnover approx. $4.6B Boston Scientific (BSX) $46.04, −0.04%, turnover approx. $2.4B AT&T (T) $23.94, −2.92%, turnover approx. $1.9B Verizon (VZ) $47.22, −2.01%, turnover approx. $1.9B Ford Motor (F) $15.28, +2.14%, turnover approx. $1.5B ### Related Stocks - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [NOW.US](https://longbridge.com/en/quote/NOW.US.md) - [AVTR.US](https://longbridge.com/en/quote/AVTR.US.md) ## Related News & Research - [Developers get 21x cheaper Muse Spark access if they let Meta train on their prompts](https://longbridge.com/en/news/297960240.md) - [Nvidia vs. Micron: Own One AI Stock, but Stay Away From the Other, Says Investor](https://longbridge.com/en/news/297919258.md) - [QUICK SPARK: Microsoft's AI Spending Pays Off With Azure Growth Set to Reach 45%](https://longbridge.com/en/news/297673157.md) - [Gateway Wealth Partners LLC Reduces Stock Position in Meta Platforms, Inc. $META](https://longbridge.com/en/news/298004484.md) - [Jim Cramer Says Buy the Magnificent Seven Again, Traders See Nvidia as Clear Winner](https://longbridge.com/en/news/298067969.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**