--- title: "Chip Stocks Rout Sends Nasdaq Down Over 1%; Oil Surges More Than 4%" type: "News" locale: "en" url: "https://longbridge.com/en/news/292528014.md" description: "Fed hawkish remarks and US-Iran Hormuz Strait tensions triggered a broad semiconductor selloff, with Nvidia down over 3% and Intel plunging more than 6%, while energy stocks rallied sharply." datetime: "2026-07-13T20:26:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292528014.md) - [en](https://longbridge.com/en/news/292528014.md) - [zh-HK](https://longbridge.com/zh-HK/news/292528014.md) --- # Chip Stocks Rout Sends Nasdaq Down Over 1%; Oil Surges More Than 4% U.S. stocks closed lower on July 13, with all three major indices in the red. Hawkish commentary from Fed Governor Christopher Waller and escalating tensions between the U.S. and Iran in the Strait of Hormuz sparked a broad rout in semiconductor names, dragging the Nasdaq down more than 1%. The S&P 500 shed roughly 0.4%, while the Dow posted a modest decline. Energy stocks bucked the trend, surging alongside a spike in crude oil prices. On the session, chip stocks faced across-the-board selling, with Nvidia, Intel, Micron Technology, and Oracle all tumbling sharply. Oil and gas stocks broadly advanced on Hormuz Strait jitters, led by Kosmos Energy which surged over 16%. Mega-cap tech names diverged: Apple and Amazon closed in positive territory, while Palantir gained more than 2%. **Semiconductor Sector Hammered; Intel Tumbles Over 6%** At the close, Intel (INTC) slumped **6.12%** to $103.12 on roughly $10.3 billion in turnover. Oracle (ORCL) dropped **6.47%** to $131.54. Micron Technology (MU) fell **4.40%** to $936.18. Nvidia (NVDA) declined **3.52%** to $203.53, with turnover of approximately $24.5 billion, ranking second across the entire market. SK Hynix (SKHY) plunged **9.32%** to $152.35. On the news front, Fed Governor Waller issued a stark warning that if core inflation continues to heat up, the FOMC may need to hike rates soon to cool prices. Waller noted core PCE has risen from 3.0% to 3.4%, citing tariffs, energy prices, and AI infrastructure demand as key drivers. The remarks pushed market-implied odds of a July rate hike significantly higher, with CME FedWatch showing a probability of **46.5%**. Legendary investor Jim Cramer characterized the semiconductor pullback as a buying opportunity, singling out Intel in particular; his investment club added to its Intel position during the decline. **Energy Stocks Rally on Hormuz Tensions; Kosmos Energy Surges Over 16%** At the close, Kosmos Energy (KOS) soared **16.19%** to $2.44. Transocean (RIG) advanced **3.27%** to $5.37. Battalion Oil (BATL) jumped **19.62%** to $1.89. Tensions in the Strait of Hormuz escalated sharply after President Trump accused Iran of reneging on negotiations and announced a renewed blockade of the strait, barring Iranian vessels while demanding a 20% security fee from passing commercial ships. Although Iran claimed to have closed the strait, the U.S. maintains it remains open. WTI crude futures surged more than **4%** to above $74 per barrel. Trump also previewed a primetime national address on Thursday, with markets widely anticipating a potential announcement of further military action. **Mega-Cap Tech Diverges; Apple Bucks the Downtrend** At the close, Apple (AAPL) rose **0.63%** to $317.31 on roughly $13.7 billion in turnover. Amazon (AMZN) added **0.80%** to $247.31. Palantir (PLTR) gained **2.57%** to $130.05. Netflix edged up 0.63%, and AT&T climbed 1.99%. In corporate news, Apple formally filed a lawsuit against OpenAI, alleging theft of trade secrets and accusing the AI company of systematically obtaining confidential information to accelerate its hardware development efforts — a move that has shattered the partnership between the two firms. The complaint seeks an injunction barring OpenAI from using the alleged secrets and demands damages; OpenAI has denied the allegations. The lawsuit also sparked a public spat between Elon Musk and Sam Altman. Separately, Meta announced the expansion of its Hyperion AI data center in Louisiana to 5GW, with total investment exceeding **$50 billion**; when including AI chip procurement, the total outlay could top $250 billion. **Macro Backdrop: Rate Hike Expectations Surge, Gold Tumbles** Fed Governor Waller's hawkish remarks drove a sharp repricing of the rate path. CME FedWatch now shows a **46.5%** probability of a July rate hike, while Kalshi prediction markets indicate 36%. Barclays warned that the energy shock combined with AI-related price increases is complicating the inflation outlook and may force the Fed to adopt a more aggressive stance ahead of the July 29 FOMC meeting. Hammered by rising rate expectations, spot gold plunged more than **3%**, breaking below the $4,000 level to settle at $3,992.35 per ounce. **Top 10 by Turnover** Micron Technology (MU) $936.18, -4.40%, turnover ~$32.7 billion Nvidia (NVDA) $203.53, -3.52%, turnover ~$24.5 billion Apple (AAPL) $317.31, +0.63%, turnover ~$13.7 billion Intel (INTC) $103.12, -6.12%, turnover ~$10.3 billion SpaceX (SPCX) $139.14, -4.24%, turnover ~$9.9 billion SK Hynix (SKHY) $152.35, -9.32%, turnover ~$8.6 billion Amazon (AMZN) $247.31, +0.80%, turnover ~$8.2 billion Oracle (ORCL) $131.54, -6.47%, turnover ~$7.3 billion Palantir (PLTR) $130.05, +2.57%, turnover ~$5.1 billion American Airlines (AAL) $16.31, -3.78%, turnover ~$2.5 billion ### Related Stocks - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [ORCL.US](https://longbridge.com/en/quote/ORCL.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [KOS.US](https://longbridge.com/en/quote/KOS.US.md) - [RIG.US](https://longbridge.com/en/quote/RIG.US.md) - [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md) ## Related News & Research - [The $7 Billion Reason Oracle Stock Is in Focus Today](https://longbridge.com/en/news/293785114.md) - [Corning Landed Apple, Meta, Nvidia and Amazon in Six Months. 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