US Stock Market Today: Nvidia Gains, SpaceX and SK Hynix Slide on Market Selloff

On 23 July 2026, US stocks came under pressure as investors responded to higher Treasury yields, rising oil prices, and another wave of corporate earnings. The major indexes finished lower, but individual stocks told a different story. Nvidia moved higher as confidence in AI spending remained strong, while SpaceX and SK Hynix lost ground during a broader technology selloff. So, what drove these contrasting moves, and what could they mean for investors in the days ahead?

US Stock Market Today: Markets Finish Lower as Tech Selloff Continues

US stocks closed mostly lower on 23 July 2026 as investors weighed higher Treasury yields, rising oil prices, and another busy day of earnings reports. The Nasdaq Composite declined 0.6%, the S&P 500 slipped 0.1%, and the Dow Jones Industrial Average finished almost unchanged. The Russell 2000 dropped 0.9%, reflecting continued pressure on smaller companies.

Oil prices climbed above $86 a barrel, while the yield on the 10-year US Treasury rose to 4.66%. Both factors reduced investor appetite for growth stocks. Even so, several AI-focused companies continued to attract buyers despite the wider market weakness.

Nvidia Outperforms While AI Leadership Remains Intact

Why Did Nvidia Stock Rise?

Nvidia outperformed the broader market, gaining about 3% and climbing back above its 50-day moving average. Investors continued to back the stock because spending on AI infrastructure remains strong. Large cloud providers are still investing heavily in AI data centres, supporting Nvidia’s long-term growth outlook.

Most semiconductor stocks traded lower during the session, yet Nvidia held its ground. That strength suggested investors still see the company as the leading force in AI hardware.

What Does It Mean for Investors?

Nvidia’s latest gains show that investor confidence in the company remains intact despite recent market volatility. According to Meyka, the stock still has a positive outlook while AI investment continues at its current pace. Meyka’s AI stock analysis tool also indicates bullish momentum, although price swings could increase around earnings announcements.

Many Wall Street analysts continue to rate Nvidia positively because of its dominant position in AI chips and strong demand from enterprise customers.

Why SpaceX and SK Hynix Stocks Fell Today?

Why Did SpaceX Extend Its Decline?

SpaceX shares stayed under pressure as investors reduced exposure to higher-risk growth stocks. Concerns about rising AI-related capital spending also weighed on sentiment. Many investors appear to be waiting for the company’s first public earnings report, expected on 4 August 2026, before making new investment decisions.

Why Was SK Hynix Weak?

SK Hynix also came under selling pressure as investors locked in profits across semiconductor stocks. The company remains one of Nvidia’s biggest suppliers of high-bandwidth memory, but elevated valuations made traders more cautious.

Its American depositary receipts were expected to open lower after weakness in South Korean trading, adding to pressure across the chip sector.

Technical View

• SpaceX: The short-term trend remains weak, with stronger buying needed before momentum improves.
• SK Hynix: Long-term demand for AI memory chips remains healthy, but short-term volatility is likely to continue.
• Meyka says: Both companies still have solid long-term exposure to AI, although investors should expect larger price swings while earnings season remains active.

What Is Driving Today’s Market Sentiment?

Several factors shaped trading throughout the session. Higher oil prices raised fresh inflation concerns, while rising Treasury yields made growth stocks less attractive. Investors also watched earnings from major technology companies, including Alphabet and Tesla, for new signs about AI spending and business demand.

Market Sentiment Gauge — 7/22

The market sentiment reading comes in at 48, which keeps us in neutral.

To me, this says we’re not in full fear mode, but we’re definitely not seeing broad confidence either. It’s more of a mixed tape where the market can still grind around, but… pic.twitter.com/clmCRIlswq

— Anthony Sandford (@AnthonySandford) July 22, 2026

Many traders shifted money into defensive sectors after strong gains in semiconductor stocks earlier this year. AI remains a strong long-term investment theme, but investors have become more selective as valuations continue to rise. That shift in sentiment led to mixed performance across technology stocks.

What Investors Should Watch Next?

The next few trading sessions could provide a clearer picture of market direction. Investors should keep an eye on:

• Upcoming Big Tech earnings and company guidance.
• Whether Nvidia can stay above its key technical support levels.
• SpaceX’s earnings release on 4 August.
• Demand for AI chips and high-bandwidth memory products.
• Federal Reserve interest rate expectations.
• Treasury yields and oil prices, which continue to influence technology stock valuations.

Conclusion

Thursday’s trading showed that stock selection mattered more than the broader market trend. Nvidia continued to benefit from steady confidence in AI spending, while SpaceX and SK Hynix reflected investor caution toward richly valued technology stocks.

As earnings season moves forward, market attention is likely to remain on company results, AI demand, interest rate expectations, and technical price levels rather than headline market moves alone.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.