Stock Market Today: Nasdaq Slides After Samsung Sparks Tech Selloff — Live Updates
On July 7, 2026, the stock market experienced notable developments, including a significant decline in tech stocks following disappointing earnings from Samsung. Despite projecting a 19-fold increase in quarterly earnings, Samsung's results failed to meet investor expectations, leading to a nearly 5% drop in the benchmark Kospi index and a selloff in global chip stocks, including a 0.7% slump in the Nasdaq Composite Index. Additionally, SpaceX's shares fell as it began trading in the Nasdaq-100. In the energy sector, prices rose as tensions escalated due to Iran's Revolutionary Guard attacks on commercial ships in the Persian Gulf, pushing Brent crude above $74 a barrel.
Stock Market Today: Tech Stocks Fall After Samsung Earnings
Oil prices strengthen after attacks on ships in Persian Gulf
Chip giant Samsung gave what was by all accounts a rosy update today, projecting a 19-fold surge in quarterly earnings.
That wasn’t enough to meet investors' lofty expectations. Samsung shares slid in South Korea, sending the benchmark Kospi index down nearly 5% and sparking a selloff in chip stocks globally.
The Nasdaq Composite Index has slumped about 0.7%, with shares in SpaceX sliding on the first day of the rocket maker’s inclusion in the Nasdaq-100.
Meanwhile, energy prices are drifting higher after Iran’s Revolutionary Guard fired at two commercial ships near the Strait of Hormuz. Brent crude is climbing back above $74 a barrel, while European natural-gas prices also gained.
