Chip Stocks Rally 5% as Nvidia Reveal Pulls Index Off Bear-Market Lows

On July 21, 2026, the Philadelphia Semiconductor Index jumped 5%, clawing back from a bear market — a 20% drop from recent highs — entered the prior week. Nvidia's latest chip designs drove buyers into battered chip stocks. The index had ticked up 0.6% the session before, ending the slide.