Markets Whipsaw as Semiconductors Fall and Magnificent 7 Stocks Move Higher

Markets experienced volatility on July 1, 2026, with semiconductor stocks declining 4.4% while Magnificent 7 stocks rose 2.4%. Meta surged 10.5% on cloud business announcements, while NVIDIA fell 2.2%. Interest rates increased amid inflation concerns, crude oil declined after Iran-related volatility, and precious metals gained. Software stocks recovered with a 3.4% daily gain.