Huo Xing Finance reports that on July 17, according to BIT (bit.com) market data, the three major U.S. stock indices closed lower: the Dow Jones fell 0.2%, the Nasdaq dropped 1.47%, and the S&P 500 declined 0.51%. The Philadelphia Semiconductor Index plunged 4.3% in a single day, with the overall semiconductor sector down 22% from its mid-June high, officially entering a technical bear market. Semiconductor and memory stocks tumbled: SK Hynix ADR fell over 13%, SanDisk dropped more than 12%, Micron declined over 5%, Western Digital slid over 9%, and Seagate Technology fell 10%.
Semiconductor Index Enters Technical Bear Market, Down 22% from June High
MarsBitShare
Summary
The Fear and Greed Index turned sharply negative as the Philadelphia Semiconductor Index dropped 4.3% on July 17, 2026. The sector has declined 22% from its June high, confirming a technical bear market. Technical indicators show worsening weakness, with SK Hynix ADR down over 13%, SanDisk down over 12%, and Micron down over 5%. Western Digital and Seagate Technology also fell more than 9% and 10%, respectively. The Nasdaq closed down 1.47% as broader market sentiment deteriorated.
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