Chip stock sell-off triggers mixed trading in global markets

As selling pressure on chip stocks continues in global markets, falling oil prices and Trump's F-35 comments on Turkey are in focus. Asian stock markets saw sharp losses.

Scraper SystemJuly 28, 2026, 11:59 AM

Chip stock sell-off triggers mixed trading in global markets

The chip stock sell-off in global markets, triggered by concerns over AI investments, limited the positive effect of falling oil prices as geopolitical risks eased. US President Donald Trump's comments on selling F-35s to Turkey also made headlines.

Sharp sell-off in chip sector

Reports that Nvidia's AI financing commitments exceeded $750 billion heightened investor concerns over debt and demand balance. Claims that China has developed deep ultraviolet lithography machines also increased competitive pressure. Netherlands-based ASML's US-listed shares fell 5.8%.

Oil and geopolitical developments

Trump's remarks on the possibility of a deal with Iran and the easing of tensions in the Middle East pushed Brent crude down 1.3% to $84.8 a barrel. This weighed on energy stocks while benefiting airlines.

Mixed trading on Wall Street

The Dow rose 0.51%, the S&P 500 was flat, and the Nasdaq fell 0.18%. American Airlines shares gained 3.3%, United Airlines shares gained 1.9%. Exxon Mobil fell 1.4%, Chevron fell 2.5%, and Occidental Petroleum fell 4.1%.

European markets positive

The UK's FTSE 100 rose 0.42%, Germany's DAX 40 rose 1.04%, France's CAC 40 rose 0.4%, and Italy's FTSE MIB 30 rose 0.49%. Vodafone shares gained 4.8%. Germany's Ifo business climate index beat expectations, coming in at 86.6.

Sharp chip-driven drop in Asia

South Korea's Kospi index fell 10.1% to 6,031 points. SK Hynix shares dropped 12.9%, Samsung Electronics shares dropped 11.9%. Japan's Nikkei 225 fell 4%, China's Shanghai Composite fell 1%, and Hong Kong's Hang Seng fell 0.1%.

Turkish markets

The BIST 100 index closed 1.21% lower at 13,774 points. The dollar/lira traded at 47.3777 in the interbank market.

Trump's F-35 message to Turkey

US President Trump said regarding the F-35 sale to Turkey, despite objections from Israeli Prime Minister Benjamin Netanyahu, 'No one can tell me who we should or shouldn't sell to. Turkey is a great ally of ours.'

Chip stock sell-off triggers mixed trading in global markets

As selling pressure on chip stocks continues in global markets, falling oil prices and Trump's F-35 comments on Turkey are in focus. Asian stock markets saw sharp losses.