Semiconductor Index Rallies 5% After Bear Market Plunge, Fueled by Nvidia Chip Reveal

On July 21, 2026, the Philadelphia Stock Exchange Semiconductor Index rose 5%, rebounding from bear market territory entered the prior week. Investors piled into beaten-down chip stocks as Nvidia announced its latest chip designs. A bear market denotes a 20% decline from a recent peak. The index had gained 0.6% the session before, halting the slide.