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macroJul 29, 2026, 2:16 PM

Dow Jones Plunges 800 Points on Chip Slide, Rate Fears, and Iran Threat

The Dow Jones Industrial Average dropped 800 points, dragged lower by weakness in semiconductor stocks, rising rate-hike expectations, and President Trump's vow to strike Iran.

DJI

The Dow Jones Industrial Average extended losses to 800 points on the day as a mix of sector-specific weakness and macro risks hit equities.

Drivers of the selloff included:

  • Chip stocks came under heavy selling pressure.
  • Odds of further interest rate hikes increased.
  • President Trump threatened military action against Iran.

Source: The Kobeissi Letter