Chip stock sell-off creates mixed global market trend

Concerns over AI investments triggered selling pressure in chip stocks, while Trump's remarks on F-35 sales to Turkey and falling oil prices were on the agenda. Asian markets suffered sharp losses.

Scraper SystemJuly 28, 2026, 11:56 AM

Chip stock sell-off creates mixed global market trend

In global financial markets, a sell-off in chip stocks triggered by concerns over AI investments caused a mixed trend. The positive impact of falling oil prices was limited by this pressure on the tech sector. US President Donald Trump's remarks on F-35 sales to Turkey were also among the factors shaping the market agenda.

Selling pressure on tech stocks

News that Nvidia's AI financing commitments exceeded $750 billion heightened investor concerns about debt and demand balance. Claims that China has developed deep ultraviolet lithography machines also increased competitive pressure. In this environment, shares of Dutch chip equipment giant ASML, traded in the US, fell 5.8%.

Oil prices falling

US President Trump's remarks on the possibility of a deal with Iran and expectations of easing tensions in the Middle East pulled oil prices lower. Brent crude fell 1.3% to $84.8 per barrel. This negatively affected energy stocks while supporting airline shares.

US markets close mixed

On the New York Stock Exchange, the Dow Jones index rose 0.51%. The S&P 500 was flat, while the tech-heavy Nasdaq fell 0.18%. American Airlines shares gained 3.3%, United Airlines 1.9%. Exxon Mobil fell 1.4%, Chevron 2.5%, and Occidental Petroleum 4.1%.

European markets rise

European markets were generally positive. The UK's FTSE 100 rose 0.42%, Germany's DAX 40 gained 1.04%, France's CAC 40 added 0.4%, and Italy's FTSE MIB 30 climbed 0.49%. Vodafone shares jumped 4.8%. Germany's Ifo business climate index exceeded expectations, reaching 86.6.

Sharp decline in Asia

Asian markets were hit hardest by the selling pressure in chip stocks. South Korea's Kospi index plunged 10.1% to 6,031 points. SK Hynix shares fell 12.9%, Samsung Electronics 11.9%. Japan's Nikkei 225 dropped 4%, China's Shanghai Composite fell 1%, and Hong Kong's Hang Seng index slipped 0.1%.

Turkey markets

In Istanbul, the BIST 100 index ended the day down 1.21% at 13,774 points. The dollar/lira exchange rate traded at 47.3777 in the interbank market.

Trump's F-35 statement on Turkey

US President Donald Trump sent a clear message on F-35 sales to Turkey despite objections from Israeli Prime Minister Benjamin Netanyahu. Trump said, 'No one can tell me who we should or shouldn't sell to. Turkey is a great ally of ours.'

Chip stock sell-off creates mixed global market trend

Concerns over AI investments triggered selling pressure in chip stocks, while Trump's remarks on F-35 sales to Turkey and falling oil prices were on the agenda. Asian markets suffered sharp losses.