Overseas Markets | US Chip Stocks Sold Off, Chinese Concept Stocks Rise Against the Trend, Gold Breaks Below $4,000 Again

The Dow Jones fell 0.20%, the S&P 500 dropped 0.51%, and the Nasdaq declined 1.47%. The Philadelphia Semiconductor Index plunged over 4%, SK Hynix plummeted 13%, and SanDisk fell more than 12%.

The Nasdaq China Golden Dragon Index rose 1.79%, with iQIYI and Tencent Music gaining over 4%, while Bilibili followed with a nearly 4% increase. On July 17, the Nikkei 225 index saw a sharp drop, the Korean stock market was closed, and the London spot gold price retreated below the 4,000 level again.

Institutions indicate that the market is now pricing in 2027 earnings, with strong return potential remaining in the second half of 2026. Analysts have raised their 2027 S&P 500 EPS expectations to approximately $400. Morgan Stanley previously raised its year-end S&P 500 target to 8,000 points, but the biggest risk remains the Federal Reserve raising interest rates again due to inflation.

Related ETFs:

Global Tech Leaders: Nasdaq ETF Huaxia (513300)

US Core Broad-Based: S&P 500 ETF Huaxia (159655)

Tracking Gold Prices: Gold ETF Huaxia (518850)