Monday, July 13, 2026

Wall Street started the week in a defensive crouch as geopolitical shocks and technology valuation fears triggered a broad equity selloff. The tech-heavy Nasdaq tumbled -1.55% to 25,873.176, dragging down the Russell 2000 (-0.83% to 2,953.166) and the S&P 500 (-0.79% to 7,515.34), while the Dow Jones managed a narrower loss of -0.26% to close at 52,498.64. A distinct "risk-off" mood dominated the session, sending the VIX spiking +14.17% to 17.16, while Gold uncharacteristically fell -2.64% to 4,005.2 as Treasury yields spiked on renewed inflation anxieties tied to a sudden energy shock.

Sectors in focus:

• Energy leads on military escalation: WTI Crude surged +9.44% to 78.15 following weekend US-Iran military strikes in the Strait of Hormuz and President Trump's reinstatement of a naval blockade. This supply disruption fear fueled massive gains in Petroleum Refining (+3.96%), Crude Petroleum & Natural Gas (+3.43%), and Drilling Oil & Gas Wells (+3.10%).
• Semiconductors and hardware plunge: Mounting AI valuation concerns and a weak US debut for SK Hynix weighed heavily on tech. Computer Storage Devices lagged the broader market with a -6.13% drop, followed closely by Electronic Components & Accessories (-5.60%) and Semiconductors & Related Devices (-4.96%).

On the radar:

• July 14: Markets brace for the June CPI report (forecast at 4.0% headline), Fed Chair Kevin Warsh's first congressional testimony before the House, and a wave of Q2 bank earnings (JPMorgan, BofA, Goldman Sachs, Citigroup, Wells Fargo).
• July 15: June PPI report, the Fed Beige Book, and Warsh's Senate testimony.
• July 16: June Retail Sales and Jobless Claims, alongside critical Q2 earnings from Netflix, TSMC, ASML, and UnitedHealth.