The S&P 500 index ended July with a slight decline, marking the first time the index has seen a down July since 2014.
This follows a 1.1% decline in June.
Semiconductor volatility
The iShares Semiconductor ETF (SOXX), which holds stocks of 30 chip makers and associated companies, fell 22.1% in July, according to FactSet data. This represented the fund's worst monthly performance since a 23.3% decline in December 2002, FactSet data shows. Despite the monthly drop, SOXX was up 67.7% for 2026.
Decline of the iShares Semiconductor ETF (SOXX) in July
Individual chip stocks saw varying results. Micron Technology (MU) saw its stock down 28.7% in July. While Micron's stock soared 18.4% on Thursday, it fell 5.9% on Friday. Marvell Technology (MRVL), Intel (INTC), and Micron were still showing triple-digit gains for the year among July's worst S&P 500 performers.
Tech sector performance
Technology sector trackers had mixed results in July. The State Street Select Sector SPDR ETF (XLK), which tracks the broader technology sector, dropped 8% in July. In contrast, the iShares Expanded Tech-Software Sector ETF (IGV) rose 4.4% in July.
Microsoft (MSFT) saw its stock run up 24.6% in July, though it remained down 3.9% for 2026. Apple (AAPL) stock fell 7.4% on Friday.
Top and bottom performers
Sandisk (SNDK) was the worst performer among the S&P 500 in July, with a decline of 46.6%. However, Sandisk remained the best performer for 2026 with a gain of 411.8%.
