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Live Nasdaq Composite: Tech Stocks Retreat on Geopolitical Tensions, Oil Climbs Higher
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U.S.-Iran tensions pulled Nasdaq 100 futures down 1% as TSMC's 68% June sales surge showed AI chip demand remains red-hot.
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Semiconductors led the selloff, with MU and SNDK each dropping 4% as last week's AI memory momentum unwound before the open.
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Meta pledged $50 billion to its Louisiana AI campus, targeting 5 gigawatts of compute and over $1 billion for local infrastructure.
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Keeper of the Strait
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President Trump thrust Hormuz back at the center of the macro tape, declaring the U.S. the “Guardian of the Hormuz Strait” and calling for a 20% cargo reimbursement tied to protecting commercial traffic. The post adds another layer of uncertainty for oil, shipping, and risk appetite as markets open the week. The markets remain under pressure.
Meta Footprint
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Meta Platforms (Nasdaq: META) is scaling up its Louisiana AI footprint, unveiling plans to boost its Richland Parish data-center investment to as much as $50 billion. The expanded campus could reach up to 5 gigawatts of compute capacity, with Meta also committing more than $1 billion for local infrastructure upgrades, including roads, water, and wastewater systems.
This article will be updated throughout the day, so check back often for more daily updates.
Markets opened the week on a more cautious note after last week’s tech-led gains, with geopolitical risk moving back into the foreground. S&P 500 futures fell 0.4%, Nasdaq 100 futures dropped 1%, and Dow futures slipped 85 points, or 0.2%, as investors weighed another flare-up between the U.S. and Iran and looked ahead to a busy stretch of corporate earnings. Oil prices are rising: Brent Crude is inching closer to revisiting $80/barrel while WTI is knocking on the door of $75/barrel.
The pressure was sharpest in semiconductors, where last week’s AI memory momentum began to unwind before the bell. U.S.-listed shares of SK Hynix fell 10% after Friday’s high-profile Nasdaq debut, while Micron (Nasdaq: MU) and SanDisk (Nasdaq: SNDK) each lost about 4%. Seagate Tech (Nasdaq: STX) slipped 3%, while AMD (Nasdaq: AMD) and Intel (Nasdaq: INTC) were each down roughly 2%.
Here’s a look at where things stand as of pre-morning trading:
Dow Jones Industrial Average: 52,895 Down 0.02%
Nasdaq Composite: 29,739 Down 0.95%
S&P 500: 7,599 Down 0.27%
Market Movers
Taiwan Semiconductor (TSM) kept the AI chip cycle running hot, reporting June sales of $13.8 billion, up 67.9% from a year ago. Q2 revenue reached $39.63 billion, a 36% year-over-year jump, revealing how much demand for advanced chips is still flowing through TSMC’s fabs.
Morgan Stanley raised the bar on the AI infrastructure race, now expecting hyperscaler capex to reach $1.4 trillion in 2028. The number keeps the spotlight on the companies supplying chips, memory, power, and data-center capacity.
Intel is putting another $5.7 billion into its Leixlip campus in Ireland, tying the expansion directly to AI factories and high-performance computing demand. The investment will help scale capacity for Xeon 6 and next-generation Xeon chips built on Intel’s Intel 3 process node.
Bernstein sees China as SpaceX’s (Nasdaq: SPCX) biggest competitive threat after the country landed a Long March 10B booster sooner than expected. The firm flagged China’s moon-station ambitions and massive low-Earth-orbit satellite filings as signs the space race is accelerating. SPCX shares are off 1.1% in pre-market trading.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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