--- title: "Global Markets | Memory chip stocks plummet, Nasdaq falls over 1%, gold price fluctuates within a narrow range" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/42502131.md" description: "Overnight, the U.S. stock market closed lower across the board, with the Dow down 0.25%, the S&P 500 down 0.45%, and the Nasdaq down 1.16%. Samsung Electronics' impressive performance failed to offset concerns about peaking AI storage demand, as memory chip stocks like Micron and Western Digital plunged, dragging down the tech sector. The Nasdaq Golden Dragon China Index fell 0.58%. Meituan and Tencent performed strongly, while Baidu fell over 2% and Nio dropped nearly 3%. Alibaba edged up 0.23%. London spot gold was around $4110 per ounce, pressured during the session by a dollar index that rose and then fell..." datetime: "2026-07-08T06:31:39.000Z" locales: - [en](https://longbridge.com/en/topics/42502131.md) - [zh-CN](https://longbridge.com/zh-CN/topics/42502131.md) - [zh-HK](https://longbridge.com/zh-HK/topics/42502131.md) author: "[同壁财经](https://longbridge.com/en/profiles/26505347.md)" --- # Global Markets | Memory chip stocks plummet, Nasdaq falls over 1%, gold price fluctuates within a narrow range The U.S. stock market closed lower across the board overnight, with the Dow down 0.25%, the S&P 500 down 0.45%, and the Nasdaq down 1.16%. Samsung Electronics' strong performance failed to offset concerns about peaking AI storage demand, with memory chip stocks like Micron and Western Digital plunging, dragging down the tech sector. The Nasdaq Golden Dragon China Index fell 0.58%. Meituan and Tencent performed strongly, while Baidu fell over 2% and Nio fell nearly 3%. Alibaba edged up 0.23%. Spot gold in London was around $4,110 per ounce. The U.S. dollar index's surge and retreat pressured gold prices during the session. Bulls and bears are cautiously watching ahead of the Fed minutes release this week. Goldman Sachs noted signs of exhaustion in the AI momentum trade in the first half, suggesting a turning point for defensive sectors like healthcare. Morgan Stanley stated that semiconductor momentum is weakening, with funds rotating to hyperscale cloud providers and lagging sectors. The index is expected to be weak and volatile in the short term. 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