The Dow Jones Industrial Average ended a three-day winning streak on October 13, 2026, falling by approximately 0.2–0.4% or 137–180 points. The decline was driven by a broad selloff in semiconductor stocks, which also pulled down the S&P 500 and Nasdaq Composite indices.
Broadcom CEO Hock Tan contributed to the market sentiment by comparing AI investments to casino gambling. Simultaneously, reports emerged that the Chinese manufacturer ChangXin Memory Technologies (CXMT) has made progress on a new DRAM architecture, potentially increasing supply and pricing pressure for existing industry leaders.
Micron Technology, the largest memory producer in the United States, saw its shares decline by approximately 4–6%. The Philadelphia Semiconductor Index extended its losing streak to five or six sessions, marking its longest period of decline in over a year.
Market activity indicated a shift in capital from growth and technology sectors toward value-oriented sectors like energy and financials. Meanwhile, Treasury yields remained at 5.24%, and JPMorgan Chase reported mixed results for the third quarter.
