US Stock Market Key News Summary July 18, 2026

The Philadelphia Semiconductor Index closed down 193.615 points, or 1.63%, on Friday (July 17) at 11,673.889, marking a decline of over 20% from its recent high and officially entering bear market territory. However, Bank of America analyst Vivek Arya stated that this downturn is a 'summer correction, not a fundamental reversal.' The index plunged as much as 5.7% intraday before rapidly recovering and briefly turning positive, ultimately closing 1.63% lower, reflecting volatile market sentiment.

SK Hynix (SKHY-US)逆势 rose on Friday, likely because its home market in South Korea was closed. The company's ADR surged as much as 8.3% during the session but closed up 1.1% at $154.03. In contrast, its major U.S. competitor Micron Technology (MU-US) fell 0.5%. SK Hynix's ADR had plunged 14% earlier in the week.

NVIDIA (NVDA-US) faced selling pressure on Friday, briefly losing its crown as the world's most valuable company to Apple (AAPL-US) during intraday trading. However, NVIDIA recovered slightly to narrowly reclaim the top spot by market close. The stock dipped as low as $197.97 intraday, ultimately closing down 2.21% at $202.81 per share, with a market capitalization of approximately $4.91 trillion. Apple rose 0.14% to close at $333.74 per share, with a market cap of about $4.90 trillion.

SpaceX (SPCX-US), Elon Musk's space exploration company, plunged nearly 7% on Friday. From its June record high, the company's market value has evaporated by over $1 trillion. The cooling of the post-IPO honeymoon for this rocket and AI giant casts a shadow over AI-related stocks and the broader IPO market.

Apple and the U.S. Department of Justice (DOJ) are reportedly holding preliminary settlement talks over the antitrust lawsuit filed in 2024, aiming to resolve the case before trial. However, sources indicate that negotiations are still in early stages and no final agreement is guaranteed.