Nasdaq-100 Hits Correction as Dow Rallies 575 Points in Same Session

On July 28, 2026, the Nasdaq-100 briefly fell 10% from a recent high — correction territory — before closing at 27,662.31, down 1.34%. Intel and Micron led the chip-stock decline. Yet the Dow rallied 575 points and the S&P 500 closed green, as falling oil prices and broad gains overshadowed the semiconductor rout. Bloomberg cited China's chip advances and deepening "AI fatigue" as catalysts.