Tech was hit again on Friday by the worsening selloff in chip makers and other AI stocks.

Advanced Micro Devices declined 2.1% and Intel dropped 3%. Applied Materials was down 4.7% and Corning fell 3%.

Marvell moved 0.7% lower, KLA Corp. dropped 3%, and Lam Research declined 2.4%. ON Semiconductor was down 1% and Super Micro Computer Inc. fell 2.5%.

Nvidia declined 1.7% to $203.84 and is close to losing its place as the world's largest company by market valuation. Apple holds the No. 2 spot right now, according to Dow Jones Market Data.

Some AI trade stocks were moving higher.

Sandisk shook off premarket losses and advanced 1.9%. Micron rose 1.6%. In a letter made public on Thursday, House members told Commerce Secretary Howard Lutnick that they more restrictions on U.S. companies buying memory-chips from Chinese companies such as ChangXin Memory Technologies ( CXMT).

Intuitive Surgical was the S&P 500's worst performer, tumbling 12% after the healthcare robotics company reported an earnings beat but failed to raise its outlook.

Netflix dropped 8.7% after the video streamer posted weaker-than-expected revenue and said it would change the way it shares engagement data with shareholders.

SpaceX fell 4.6% to $125.17 after the rocket company scrubbed a planned test flight of its Starship rocket. A problem with booster engines led to the delay.

SK Hynix gained 1.4% to $154.74. ADRs of the South Korean memory-chip maker might have been helped by the absence of trading in their home market.

Travelers rose 8.6%, placing it at the top of the S&P 500. The property and casualty insurer's second-quarter earnings blew away the consensus view despite Wall Street pessimism ahead of the report.

Write to George Glover at george.glover@dowjones.com and Kit Norton at kit.norton@barrons.com

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(END) Dow Jones Newswires

July 17, 2026 11:45 ET (15:45 GMT)

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