Market Overview

S&P 500-0.17%▼ at 7,723.55, posting a small decline. Nasdaq-0.83%▼ at 26,363.44, underperforming as Technology fell. Russell 2000-0.59%▼ at 3,019.19, with small-cap weakness. Dow+0.49%▲ at 54,349.12, driven by select large-cap strength. VIX+0.95%▲ at 15.96. Crypto: BTC+0.50%▲ near $64,384 and ETH+1.90%▲ near $1,908, with ETF inflows and on-chain accumulation cited for recent gains. What's driving the market this week Hedge-fund and systematic selling in semiconductor and AI-related names has extended a July technology pullback, leaving hardware and chip indexes among the heaviest losers and weighing on the Nasdaq. A U.S. policy push to restrict exports of certain metal wastes and expand domestic recycling/reprocessing has kept critical-minerals and supply-chain policy in focus, supporting selected basic-materials stocks despite mixed sector breadth. Precious metals rallied after softer payrolls and reports of progress in talks around the Strait of Hormuz, lifting gold to its highest levels since June and coinciding with energy-sector weakness on lower oil futures.